Pound Sterling Price News and Forecast: GBP climbs above 1.3500 after weak US NFP data

British Pound climbs above 1.3500 after weak US NFP data

The British Pound (GBP) strengthens against the US Dollar (USD) on Friday after a disappointing US Nonfarm Payrolls report prompts traders to scale back bets on Federal Reserve (Fed) interest-rate hikes. At the time of writing, GBP/USD trades around 1.3506, hovering near three-week highs.

The US economy lost 23K jobs in July, well below market expectations for an increase of 80K. June’s gain was also revised sharply lower to 20K from 57K. However, the Unemployment Rate unexpectedly fell to 4.1% from 4.2%. Read more...

British Pound eases below 1.3450 as markets brace for the US Nonfarm Payrolls report

The British Pound (GBP) nurses minor gains against the (USD) for the second consecutive day on Friday, with the GBP/USD retreating to levels just below 1.3450 at the time of writing. The pair, however, remains trapped within the 1.3400-1.3500 range that has been limiting price action since the beginning of August. 

The US Dollar ticked up on Thursday, fuelled by a report from Financial Times, citing sources close to the US Federal Reserve (Fed), to affirm that Chairman Kevin Warsh would be open to hiking interest rates in September if upcoming inflation data shows that price pressures remain persistently high. Read more...