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GBP Declines As USD Strengthens

M. Ali 26 May, 2021 11:00 pm Forex Market, Market Update

The British Pound (GBP) declined on Wednesday against the U.S. Dollar (USD), as the later rose across the board on the back of inflation fears easing after recent remarks by Federal Reserve officials.

The GBP/USD pair is down for the day by about 0.20% at 1.4125.

The pair has been moving today in a range between 1.4112 and 1.4176.

In addition, a rise in Treasury bond yields in the United States is providing support to the greenback, amid the absence of major economic data today.

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