The GBP/USD is about to post the highest close since April 2018 as it trades around 1.3950.
Earlier on Thursday, it climbed to 1.3986, the new cycle high and then pulled back, finding support at 1.3925. The correction from the top took place amid a recovery of the US dollar across the board. The greenback gained momentum as equity prices in Wall Street dropped further into negative territory. The Dow Jones is falling by 0.90% and the Nasdaq by 1.45%.
The pound continues to be among the top performers of the week. Expectations about vaccination in the UK continue to be a key driver for the currency. On Thursday, comments from Bank of England policymakers did not stop the GBP/USD from rising further.