Pound Volatility Ebbs as NFP Numbers Surprise Markets

The British Pound (GBP) saw some volatility in its price against the US Dollar (USD) after the release of stronger-than-expected United States employment data. The GBP/USD pair initially fell to an intraday low of 1.3482, but it rebounded and is currently trading around 1.3512. This brief dip was likely due to the surprise in the NFP numbers.

The British Pound had earlier reached session highs near 1.3550 against the US Dollar during the London trading session, but it retreated as BoE Governor Andrew Bailey called for flexibility on monetary policy. This statement cooled hopes for an interest rate hike at September's monetary policy meeting.