US Open Preview – Pound rebounds to 1-week highs ahead of BoE rate decision; oil reaches fresh peaks
Posted on May 10, 2018 at 10:58 am GMTHere are the latest developments in global markets: FOREX: Sterling recovered earlier losses ahead of the BoE rate decision later today, bouncing up to a 1-week high of $1.3616 (+0.46%) despite data on the UK’s industrial production and the trade deficit coming in worse than expected and shedding a dark cloud around the country’s economic outlook. The euro gained some ground, rising to $1.1882 (+0.28%), while the dollar eased to 109.62 (-0.09%) against the yen. However, rising long-term US Treasury yields continued to underpin the greenback at a time of increasing geopolitical risks [..]