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fxAug 4, 2026, 3:52 PM

Pound recovers as soft US jobs data and falling oil pressure the dollar

The British Pound edged higher on Tuesday, gaining 0.14% against the US Dollar, as weaker-than-expected JOLTS figures and a decline in oil prices weighed on the greenback.

GBPUSD

The British Pound recovered some ground against the US Dollar on Tuesday, rising 0.14% to trade around 1.3451. The move came after US JOLTS job openings data came in softer than expected.

Despite the miss, the report still pointed to a resilient labor market, with layoffs little changed. Market participants saw the figures as a factor pressuring the Dollar.

Additionally, falling oil prices contributed to the Dollar's weakness, providing a tailwind for the GBP/USD pair.

Source: FXStreet Forex News