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Pound falls as dollar gains on bond sell-off
The British pound declined today, Thursday, due to a sharp global sell-off of bonds. Long-term bond yields in the United States and the United Kingdom rose to their highest levels in decades, supporting the dollar and keeping it near its highest levels this year. The GBP-USD pair dropped by 0.38% to reach 1.3215 dollars, while the EUR-USD pair declined by 0.37% to 1.1288 dollars. The yield on 10-year U.S. Treasury bonds increased to 5.340%, and the dollar index hit its highest level this year at 101.80 points. The dollar is expected to remain strong in October, unless negotiations between the United States and Iran make significant progress.
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