GBP Rises as Soft Jobs Report Weighs on Dollar Ahead of NFP

The British Pound has risen by 0.12% against the US Dollar on Wednesday, as the Dollar registers back-to-back days of losses.

This comes after a softer-than-expected ADP jobs report in July, which showed an easing from 98K to 44K, below forecasts of 70K.

On the other hand, the ISM Services PMI in July remained in expansion territory, up from 54 to 54.1, below forecasts of 54.5.

Market participants estimate that the US economy created 80K jobs in July, up from June's 57K, with an expected Unemployment Rate of 4.2%, unchanged from the previous month.