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GBP Edges Higher on Weak US Labor Data

Guavy AI Editorial Team
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The Pound to US Dollar exchange rate edged higher on Tuesday as weaker US labor market data weighed on the US Dollar. Sterling traded in subdued conditions ahead of fresh economic releases.

At the time of writing, GBP/USD was trading around $1.3457, up approximately 0.2% on the day. The Pound to US Dollar could extend its advance if softer US labor market data continues to weigh on Fed rate expectations.

The latest JOLTS report showed job openings fell by more than economists had anticipated, pointing to softer labor demand and prompting investors to trim some of their more hawkish policy expectations.

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