GBP/USD Opens Week Near 1.3500 as Dollar Retreats on Weak Jobs Data
Sterling climbs to its highest since mid-July above 1.3500 after a soft US labour report dents Fed rate hike bets.
GBPUSD
GBP/USD kicked off the week of 10–14 August trading around 1.3500, its strongest level since 15 July. The pair built on Friday’s gains as the dollar continued to slide.
The move followed a weak US labour market report that lowered expectations for additional Federal Reserve rate hikes, sapping demand for the greenback.
Sterling benefited from the broad dollar sell-off, though the post offered no details on UK-specific catalysts.
Source: FXStreet Forex News