GBP Rises Against USD Amid Soft US Jobs Report

The Pound Sterling (GBP) rose by 0.12% on Wednesday as the US Dollar (USD) continued to lose ground, following a softer-than-expected jobs report from the ADP employment agency.

According to data released by FXStreet, the GBP/USD pair traded at 1.3467, with the Pound benefiting from the decline in the US currency's value.

The US economy saw a slower pace of job growth than anticipated, which may indicate that the Federal Reserve will not be as aggressive in raising interest rates as previously thought.

Business activity in the services sector continued to expand solidly, but this was not enough to offset the negative impact of the jobs report on the Dollar's value.