The Cable continues to drop for the fourth consecutive day, reaching a new year-to-date low around 1.3315. On Wednesday, the market sentiment was gloomy, as portrayed by US equity indices falling. In turn, Forex risk-sensitive currencies like the GBP, the AUD, and the NZD, record losses in the day against the greenback.
In the meantime, the US Dollar Index, which measures the dollar’s performance against a basket of six rivals, advanced 0.45%, sitting at 96.92, closing to the 97.00 figure, that despite that, the US 10-year Treasury yield remains unchanged at 1.669%.
On Wednesday, the UK economic docket featured Sylvana Tenreyro, Bank of England (BoE) Monetary Policy Committee (MPC) member. Tenreyro said she would not want to say exactly if the BoE would raise rates in December or February when the central bank updates its economic projections.
In the meantime, across the pond, a full US macroeconomic docket ahead of Thanksgiving unveiled the US Initial Jobless Claims, Durable Goods data, GDP, and the Fed favorite gauge of inflation, the Personal Consumption Expenditure figures.
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