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GBP/USD has extended its daily rally and advanced beyond 1.2000 on Friday. The US Dollar stays under heavy selling pressure after the data published by the ISM showed an unexpected contraction in the service sector’s business activity in December.
Gold price gathered bullish momentum and rose above $1,860 in the American session. After the ISM Services PMI came in much worse than expected, the benchmark 10-year US Treasury bond yield is down more than 3% on the day below 3.6%, providing a boost to XAU/USD.