Euro is still stuck near four-month lows, following GDP data that confirmed weak growth momentum in the euro area in the first quarter of 2018. On the other hand, the rise in US bond yields that supported the US dollar.
The EURUSD slipped from a daily high of 1.1938 to now close to the 1.1815 support level. While the dollar index rose to levels of 92.66 with the yield of 10-year bonds surged to the levels of 3.019%.
In the UK today, investors watched labor market data, especially wage numbers excluding bonuses which showed a 2.9% on yearly basis rise for the first three months to March. The Bank of England kept interest rates last week and lowered its outlook, sending GBP to four months low against the US dollar.
The GBPUSD dropped from its daily high of 1.3568 to settle around the key support level at 1.3480 and exceeding that level could push the pair targeting the 1.3280 levels.
Sterling has outperformed most of the major currencies this year, but weak economic data prompted Mark Carney, the governor of England to be cautious in his remarks, followed by keeping rates unchanged and then declining in pound.
