GBP Rises Above 1.3500 as BoE's Pill Calls for Rate Hike

The British Pound has strengthened above the 1.3500 mark against the US Dollar, as a hawkish statement from the Bank of England's Chief Economist Huw Pill fueled expectations of an interest rate hike.

Pill's comments on Thursday provided support to the GBP, as he emphasized the need for a rate increase to limit inflation risks, despite uncertainty surrounding the war in the Middle East.

Traders are now waiting for the US Nonfarm Payrolls (NFP) data later on Friday, which could shape expectations for the Federal Reserve's next policy move. A robust jobs report could reinforce the Fed's decision to raise interest rates and boost the Greenback.