The British pound rate fell to 1.3910. The decline stalled after the release of UK CPI data, which showed that the general consumer price index rose by 0.3% Mom in March and 0.7% YoY vs. the forecast of 0.3% MoM and 0. 8% YoY.
The decline in the EURUSD and GBPUSD pairs is temporary. 10-year UST yields decreased to 1.56%. Market participants are watching the 1.55% level. If it fails to hold, the dollar will continue to weaken. In this case, major currencies will retrace to Monday highs.