Pound Sterling Today - GBP/USD has rebounded after the previous session's decline, trading around 1.2650 during Friday's Asian session. The pair's strength was fueled by a weakening US Dollar (USD) due to dismal US Treasury yields. The Bank of England (BoE) also provided support with hawkish signals, indicating the possibility of maintaining high interest rates in the long term, especially as current inflation exceeds targets.
 
Megan Greene from the BoE expressed concerns about high inflation, suggesting the likelihood of long-term interest rate hikes. Although some economic data indicate potential declines, the US Dollar faces challenges with the 2-year US Treasury yields falling. After reaching 103.59 on Thursday, the US Dollar Index (DXY) dropped to 103.30.
 
US data, such as the Core Personal Consumption Expenditures (PCE) Index, showed year-over-year and month-over-month declines. Initial Jobless Claims were slightly below estimates but higher than previous revisions. Investors are looking forward to the UK National House Price data, the US ISM Manufacturing PMI for November, and a speech by Federal Reserve Chairman Jerome Powell on Friday.

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