After strengthening early yesterday the dollar weakened against the euro and sterling over the course of the day, taking USD/GBP close to 1% down from its peak on Wednesday.
This afternoon we will hear the monthly Non-Farm Payrolls result, the best guide to the strength of the US labour market. Somewhere well below 200,000 new jobs is expected, but JOLTS Job openings surprised the markets on Tuesday with a more robust than expected jobs data and the same could happen today.
We’ll also hear America’s official unemployment rate, currently at 3.8%. Better labour data would support the case for more interest rate rises and so could easily affect USD.
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USD/GBP past year
