23 Dec 2014
UK 10-year Gilt yield falls
FXStreet (Mumbai) - The UK 10-year gilt yield declined after the official data in the UK showed the economic growth slowed down year-on-year in the third quarter.
The yield currently trades 1.4 basis points lower at 1.809%, compared to the previous session’s close of 1.827%. The data released today confirmed year-on-year GDP at 2.6%, missing the estimate of 3%, and down from the previous quarter’s growth rate of 3.0%. Quarter-on quarter the growth rate was confirmed at 0.7%, in line with the estimate and previous quarter’s print.
Moreover, the benchmark yield has declined for the third consecutive session today, which has pushed the GBP/USD pair lower to 1.5570 levels.
UK 10-yr Yield Technical Levels
The immediate support is seen at 1.797%, under which losses could be extended to 1.77%. Meanwhile, resistance is seen at 1.82% and 1.864%.
The yield currently trades 1.4 basis points lower at 1.809%, compared to the previous session’s close of 1.827%. The data released today confirmed year-on-year GDP at 2.6%, missing the estimate of 3%, and down from the previous quarter’s growth rate of 3.0%. Quarter-on quarter the growth rate was confirmed at 0.7%, in line with the estimate and previous quarter’s print.
Moreover, the benchmark yield has declined for the third consecutive session today, which has pushed the GBP/USD pair lower to 1.5570 levels.
UK 10-yr Yield Technical Levels
The immediate support is seen at 1.797%, under which losses could be extended to 1.77%. Meanwhile, resistance is seen at 1.82% and 1.864%.