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The GBP/USD pair has reclaimed the 1.3200 figure as US Treasury bond falls despite coronavirus outbreak in the United Kingdom.
The British pound recovers from earlier losses and is able to reclaim 1.3200 amid global concerns on the Omicron variant, and surprising resignations over negotiations with the EU, as British negotiator David Frost unexpectedly stepped down, blaming the direction of PM Boris Johnson party.
Johnson is not preparing to announce further Covid-19 this Monday, despite that the UK reported 82,886 new coronavirus cases.
Additionally, USD weakness prevails on the back of lower US Treasury bond yields, amid domestic political issues, with Democrat Senator Joe Manchin rejecting the US President Biden Build Back Better program. According to Bloomberg, the White House called the senator’s decision sudden and inexplicable reversal.
As end of the yea looms, negotiations would be restarted at the beginning of 2022, namely before the midterm elections.
In the meantime, as Wall Street opens, the US 10-year Treasury bond benchmark note drops one and a half basis points, sitting at 1.388%, undermining the US Dollar Index, which measures the US dollar’s value against its peer currencies, losing 0.18%, down to 96.39.
