GBP/USD: Brexit jitters becoming more evident, Pound weak

Gold plunges in the American session on Thursday, down over $150 a troy ounce in little less than an hour. Wall Street's collapse seems to be behind the ongoing US Dollar renewed strength, with the tech and the housing sectors leading the slump.

EUR/USD has quickly reversed modest intraday gains on Thursday, struggling to retain the 1.1850. The Greenback benefits from both, risk aversion, and market rumours suggesting Russia is analyising returning to the US Dollar system. 

GBP/USD trimmed most of its intraday gains and approaches the 1.3600 threshold. Tepid United Kingdom data released earlier in the day adds to Sterling Pound retracement, as the flash estimate of the Q4 Gross Domestic Product posted a modest 0.1% advance in the three months to December. 

LayerZero (ZRO) trades above $2.00 at press time on Thursday, holding steady after a 17% rebound the previous day, which aligned with the public announcement of the Zero blockchain and Cathie Wood joining the advisory board. 

Undoubtedly, yesterday’s delayed US January jobs report delivered a strong headline – one that surpassed most estimates. However, optimism quickly faded amid sobering benchmark revisions.

The US Dollar stays resilient against its rivals in the second half of the week, supported by the upbeat labor market data for January. The US economic calendar will feature weekly Initial Jobless Claims and January Existing Home Sales data on Thursday.