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GBP Rises as Fed's Waller Cools Hike Bets Before NFP
The British Pound (GBP) rose against the US Dollar on Thursday as Fed Governor Christopher Waller tempered bets of an interest rate hike by the Federal Reserve. The GBP/USD traded at 1.3535, up 0.37%.
This move was attributed to Waller's shift in stance on monetary policy, which is now more neutral. Meanwhile, data showed a solid US labour market and improving business activity.
The Pound's gains were capped due to ongoing fiscal and geopolitical risks, but the currency pair experienced an upward push as a sharp rally in the Japanese Yen weighed heavily on the US Dollar.