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New multi-year highs in the US Treasury market

New multi-year highs in the US Treasury market | 04 October 2023

04 October 2023, GBP/USD

New multi-year highs in the US Treasury market

GBPUSD trading plan:

The bearish trend in this currency pair is gaining momentum! The yield on the 10-year US Treasury note has already passed the 4.8% mark, providing strong support for the Dollar. These bonds are considered benchmarks, and investment funds and bankers rely on them. As the yield on these bonds is higher than the rate of inflation, it is advantageous for investors to buy them, as the yield on UK government bonds is well below the rate of inflation. The difference in yields will continue to support the Dollar until the end of the week.

Investment idea: sell 1.2076 and take profit 1.1995.

David Johnson
Analyst of «FreshForex» company
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