Pound Sterling Price News and Forecast: GBP/USD holds gains near its highest since February 2022

FXStreet Team FXStreet

GBP/USD hovers above 1.3550 ahead of US Nonfarm Payrolls

GBP/USD maintains its position near 1.3616, the highest since February 2022, which was recorded on June 5. At the time of writing, the pair is trading around 1.3570, with little moves ahead of labor market data from the United States (US).

The US Dollar Index (DXY), which measures the value of the US Dollar against six major currencies, is trading higher at around 98.80 at the time of writing. The upcoming US Nonfarm Payrolls is expected to have added 130,000 jobs in May, below the 177,000 increase in April. The Unemployment Rate is also expected to hold steady at 4.2%. Read more...

GBP/USD continues to find fresh highs as Greenback withers

GBP/USD tested its highest bids in over three years on Thursday, briefly climbing above the 1.3600 handle in intraday trading for the first time in 40 months. Bullish momentum remains tepid, however, with investor sentiment getting hobbled by approaching US Nonfarm Payrolls (NFP) jobs data due on Friday, as well as a rapidly-accelerating blowout between US President Donald Trump and his (now former) right-hand hatchet man Elon Musk.

Jobs are a key focus for investors this week. ADP job postings dropped in May, leading investors to adjust their expectations for the upcoming NFP report. May’s NFP data is projected to show a net gain of 130K jobs, down from last month’s 177K. Read more...

GBP/USD advances to multi-year highs above 1.3600 on renewed USD weakness

GBP/USD gained traction in the American session on Thursday and climbed to its highest level since February 2022 above 1.3600. At the time of press, the pair was up 0.4% on the day at 1.3605.

The broad-based selling pressure surrounding the US Dollar (USD) seems to be fuelling GBP/USD's daily rally. Read more...

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