The dollar declined essentially across the board yesterday, by close to 1%, including against the pound.
The main prompt was a further softening of the US jobs market, further weakening the likelihood of an interest rate rise from the US Federal Reserve (“the Fed”) next week. Initial jobless claims were at 261,000 last week, around 10% more than expected.
There are several high-level, market-moving events next week, starting with consumer inflation expectations on Monday, then actual inflation on Tuesday, and then what the Fed is going to do about it all on Wednesday, with the interest rate decision.
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USD/GBP past year
