Forex
GBP Edges Higher as Markets Await Key US Labour Market Releases
The British Pound (GBP) has found support at the 1.3420 area against the US Dollar (USD), causing it to edge higher and reach session highs above 1.3440.
A mix of mild risk appetite and cautiousness ahead of key US labour market releases is keeping USD bulls subdued on Tuesday, as investors await news from Iran and the release of US employment figures.
The US JOLTS Job Openings data for June will be released later today, setting the tone for Wednesday's ADP Employment Change report and Friday's Nonfarm Payrolls release. Economists at Deutsche Bank expect a mixed report, with an employment growth of +65k and the Unemployment Rate steady at 4.2%, although risks are skewed towards a rounding up to 4.3% if labour force participation rebounds.