{
  "id": 12259542,
  "title": "The Pound flatlines as Treasury yields climb to another high",
  "url": "https://urgent.news/2026/10/05/the-pound-flatlines-as-treasury-yields-climb-to-another-high",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-05T22:26:30.000Z",
  "source": {
    "name": "FXStreet",
    "slug": "fxstreet",
    "url": "https://www.fxstreet.com/news/the-pound-flatlines-as-treasury-yields-climb-to-another-high-202610052226"
  },
  "original_language": "en",
  "account": "The British pound (GBP) has remained stagnant at nearly 1.3200 against the US dollar (USD) as long-term Treasury yields continue to rise. This comes after a weak jobs report lowered expectations for a Federal Reserve rate hike in October. The 10-year yield reached 5.35% on Monday, the highest since April 2002. Meanwhile, the Institute for Supply Management's services index fell slightly below forecasts, though its prices component increased to 74. The UK's Bank Rate remains at 4%, the level at which the 10-year yield hit its current high, similar to the rate traders anticipate after the next Bank of England meeting. The pound has strengthened against the euro (EUR), trading near its strongest level of 2026, making British assets a safer European option amid France's bond selloff. The UK data calendar is quiet through Friday, with only speeches, and the BoE's external members will speak on Tuesday, Thursday, and Friday. The BoE's upcoming external members' speeches include Mann, Greene, and Deputy Governor Lombardelli. Fed minutes released on Wednesday cover the September 16 rate hike, with officials leaning toward another hike. If minutes hint at further hikes, this could boost bond yields and push GBP/USD below its current range. Chancellor Healey will present his first budget on October 28, the same day as the Fed's decision. Resistance has been capped at 1.3250 since September 30, while the range's top is at 1.3300, where the September 30 spike ended. Support levels include 1.3150, followed by 1.3100. The bias remains short-term as the pair struggles to break above 1.3250, with a daily Stochastic Relative Strength Index approaching 14, indicating a potential run at 1.3250 before a break lower. Should the daily close surpass 1.3300, it would signal an end to the downward call. The pound, the world's oldest currency, has been the official currency of the United Kingdom since 886 AD and is the fourth most traded unit in foreign exchange, accounting for 12% of all transactions.",
  "summary": "The odds of an October Fed hike have fallen from about two in three in late September to roughly one in five, and GBP/USD hasn't left the range it has traded in since September 24. Monday's range is entirely inside Friday's, and the pair trades just above 1.3200.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}