It was all downhill for the US dollar against sterling yesterday as it drifted from midweek’s strong rises in the wake of Jerome Powell’s hawkish testimony to the US Senate.
Nevertheless it ended Thursday significantly stronger than many currencies compared to the start of the week.
Leading the markets yesterday was unemployment data, with higher-than-expected jobless claims of 211,000 suggesting a softening of the US labour market.
This afternoon there will be non-farm payrolls. Next week starts quietly but hold onto your hats for Tuesday’s inflation data.
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USD/GBP past year
