06 April 2022, GBP/USD
GBPUSD trading plan:
U.S. Treasury yields rose to multi-year highs after Fed Governor Lael Brainard said she expects rapid reductions to the Fed’s balance sheet alongside methodical increases to the benchmark rate. The Fed’s recent move to raise rates typically affects the short end of the curve the most, while selling duration held in the U.S. central bank’s balance sheet pressures yields on the long-end. The Fed is due to release minutes of its March meeting that are expected to provide fresh details on the pace and scope of the Fed’s plans to reduce its bond holdings. The yield on 10-year Treasury notes was up 12.9 basis points to 2.54% while the 2-year note yield was up 9.2 basis points at 2.52%. This is a positive signal for the dollar.
Investment idea: sell 1.3090 and take profit 1.3013.
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