British Pound futures posted largest percentage gain in a year.

Bob Iaccino reviews the recent price action in the currency markets, highlighting that June British Pound futures rose for a third consecutive session to mark their largest percentage gain in nearly a year. The rally occurred despite softening U.K. economic data, including lower-than-expected composite and services PMI readings, as well as a contraction in construction. Additionally, the Halifax House Price Index missed forecasts. Iaccino notes that the U.S. dollar fell in aggregate as lower Treasury yields weighed on the currency. While the 10-Year yield rebounded slightly to 4.28% toward the close, overall lower yields continued to provide a tailwind for British Pound futures.