The dollar firmed overnight as investors headed for safety, but the American economy is sending mixed signals. Factories are busy – a key survey showed the manufacturing sector growing at its strongest pace in months – yet the cost of raw materials is surging at the fastest rate since mid-2022. Hiring has slowed too, with private employers adding just 62,000 jobs in March, well below the pace seen earlier in the year. Friday’s official jobs report lands on Good Friday when markets are shut, meaning any surprise will not hit currency markets until Monday – right alongside that critical Iran deadline.
USD/GBP: the past year
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