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26 Feb 2015
Gilt yields decline ahead of UK GDP
FXStreet (Mumbai) - The short duration as well as the long duration Gilt yields traded lower on Thursday ahead of the Q4 GDP data in the UK, which is expected to show growth remained stable at 2.7%.
The 10-year Gilt yield declined 2.5 basis points (bps) to trade at 1.698%, while the 30-year yield fell 1.6 bps to trade at 2.408%. Meanwhile, the 2-year yield fell 1 bps to 0.401%, while the 1-year yield fell 1.1 bps to 0.315%. The weakness in the Gilt yields dragged GBP/USD lower to 1.5527 from the high of 1.5550 seen few minutes before.
Moreover, the yields are also taking cues from their US counterparts, which have weakened after Yellen’s “patient” view on the timing of the interest rate hike. The 10-year Treasury yield is down 1.7 basis points at 1.952%.
UK 10-year yield Technical Levels
The immediate support is seen at 1.94%, under which losses could be extended to 1.656%. On the other hand, resistance is seen at 1.729% and 1.75%.
The 10-year Gilt yield declined 2.5 basis points (bps) to trade at 1.698%, while the 30-year yield fell 1.6 bps to trade at 2.408%. Meanwhile, the 2-year yield fell 1 bps to 0.401%, while the 1-year yield fell 1.1 bps to 0.315%. The weakness in the Gilt yields dragged GBP/USD lower to 1.5527 from the high of 1.5550 seen few minutes before.
Moreover, the yields are also taking cues from their US counterparts, which have weakened after Yellen’s “patient” view on the timing of the interest rate hike. The 10-year Treasury yield is down 1.7 basis points at 1.952%.
UK 10-year yield Technical Levels
The immediate support is seen at 1.94%, under which losses could be extended to 1.656%. On the other hand, resistance is seen at 1.729% and 1.75%.