Pound Jumps as Treasury Buyback Weakens the Dollar
Sterling advanced against the dollar after the US Treasury announced buybacks of longer-dated bonds, easing yield pressure and weighing on the greenback.
GBPUSD
The British pound strengthened against the US dollar on Wednesday after the US Treasury stepped in to support liquidity by buying back longer-dated bonds.
The buyback came a day after the 30-year US Treasury yield hit its highest level in recent trading. The operation was seen as easing upward pressure on yields, which in turn weakened the dollar.
The softer dollar tone helped cable climb, though the report did not include specific price levels.
Source: FXStreet Forex News