The sterling pound goes back to the US dollar with the US NFPs under the focus
The sterling pound (GBP) goes back to about 1,3535 against the US dollar during the European trading session on Friday, falling from a new three years of 1,3620 registered the previous day. The GBP/USD pair faces sales pressure as the US dollar (USD) gains ground before data of non -agricultural payroll (NFP) of the United States (USA) for May, which will be published at 12:30 GMT.
The US dollar index (DXY), which tracks the value of the dollar against six main currencies, rises to about 98.85. It is expected that official US employment data influence the next movement of the US dollar, since market expectations will probably impact on the monetary policy perspective of the Federal Reserve (FED). Read more…
GBP/USD forecast: The sterling pound loses traction before US employment data.
The GBP/USD drops on Friday and listed below 1,3550 after touching its highest level since February 2022 above 1,3600. The US Employment Report of the US could influence the valuation of the US dollar (USD) and guide the action of the torque for the weekend.
The GBP/USD acquired bullish impulse in the first American session on Thursday after the data published by the US Department of Labor showed that the initial weekly unemployment requests increased to 247,000 in the week that ended on May 31 from 239,000 in the previous week. Read more…
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
