GBP/USD sinks nearly 100 pips as UK jobless rate hits decade high
The Pound Sterling dives during the North American session as traders got back to their desks following the US President’s Day holiday. A weaker than expected UK jobs report, weighed on GBP/USD which is down 0.71% or nearly 100 pips at 1.3529. Read More…
GBP/USD Price Forecast: At make or a break near 1.3600
The GBP/USD pair claws back half of its early losses during the European trading session on Tuesday, but is still 0.23% down to near 1.3600. The Cable faced intense selling pressure as the Pound Sterling (GBP) declined after the release of the United Kingdom (UK) labor market data for the three months ending December, which showed further deterioration in the job market. Read More…
GBP/USD extends losses below 1.3600 as UK labour data disappoints
The Pound (GBP) accelerated its reversal against the US Dollar (USD) on Tuesday, dipping below 1.3600 and reaching session lows around 1.3570 at the time of writing. UK data released on Tuesday revealed an unexpected unemployment increase in December, adding pressure on the BoE to lower borrowing costs further. Read More…