Previous close | 1.414 |
Open | 1.414 |
Bid | 1.413 |
Day's range | 1.413 - 1.417 |
52-week range | 1.1477 - 1.4217 |
Ask | 1.413 |
The dollar was up on Thursday morning in Asia, but stayed near three-year lows, as the U.S. Federal Reserve continued a dovish stance that stoked reflation fears. Investors also continue to turn to the reflation trade, placing bets on increasing economic activities and prices, driven by easy financial conditions, the promise of fiscal stimulus and an accelerating COVID-19 vaccine rollout.
The British pound reached towards the 1.42 level during the trading session on Wednesday but then fell rather hard as yields in the United States spike.
GBP/USD received strong support above 1.4150 and is trying to get back above 1.4180.