GBP/USD surges above 1.2200 despite positive US Nonfarm Payrolls and high US yields
The Pound Sterling (GBP) rallied for the third consecutive day against the US Dollar (USD) on Friday as the North American session began to wind down ahead of the weekend. Although September’s Nonfarm Payrolls report was positive, the GBP/USD recovered after reaching multi-month lows of 1.2037 and has risen more than 1.70% towards 1.2240s. Read More…
Pound Sterling remains delicate as robust US job market dampens market mood
The Pound Sterling (GBP) faces an intense sell-off the surprisingly upbeat United States Nonfarm Payrolls (NFP) report for September dampens investors’ risk appetite and improves the US Dollar’s appeal. The US employers hired 336K individuals, significantly higher than expectations of 170K, and revised August data of 227K. The Unemployment Rate remained unchanged at 3.8% but landed higher than expectations of 3.7%. Read More…
GBP/USD: Further consolidation in the pipeline near term – UOB
UOB Group’s Markets Strategist Quek Ser Leang and Senior FX Strategist Peter Chia note GBP/USD could extend the consolidative phase in the next few weeks. Read More…
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