GBP/USD looks to retrace recent gains, trading slightly lower around 1.2180 during the Asian session on Friday. However, the pair received upward supp
GBP/USD hovers below 1.2200 ahead of US employment data ort, which could be attributed to the correction in the US Dollar following the decline in US Bond yields. The US Dollar Index attempts to rebound, hovering slightly higher around 106.40 as of now. The Greenback’s correction comes after reaching an 11-month high earlier this week. Read more... GBP/USD oscillates in a range below 1.
This, in turn, will drive the US Dollar and provide a fresh directional impetus to the GBP/USD pair. The US economy is expected to have added 170K jobs in September, less than the 187K in the previous month, while the jobless rate is anticipated to tick down from 3.8% to 3.7% during the reported month. A stronger report, meanwhile, would mean more pressure on wages and on inflation, which might force the Fed to stick to its hawkish stance and keep rates higher for longer. Read more...
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