GBP/USD Price Forecast: Risk-on sentiment lends support
The British Pound (GBP) is up 0.17% at around 1.3250 against the US Dollar (USD) during the European trading session on Friday. The GBP/USD pair gains as a pullback in United States (US) Treasury Yields after a juggernaut rally has lifted market sentiment.
The British Pound (GBP) strengthened by 0.17% to roughly 1.3250 against the US Dollar (USD) during Friday's European trading session. This advance came as a temporary retreat in United States (US) Treasury Yields following a significant rally has boosted market sentiment. At the time, S&P 500 futures rose 0.34% to near 7,800, indicating a risk-on market mood.
Meanwhile, 10-year US Treasury Yields decreased by 0.23% to around 5.22%. Falling US bond yields have also put downward pressure on the US Dollar. In the early European trade, the US Dollar Index (DXY), which measures the Greenback's value against six major currencies, slipped slightly below 102.00.
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