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Forex

GBP Slips Against USD Amid Solid Labor Data and Hawkish Fed Comments

Guavy AI Editorial Team
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USD GBP
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The British Pound (GBP) has extended its losses for two consecutive days against the US Dollar (USD), registering back-to-back bearish sessions on Thursday. The GBP/USD pair trades at 1.3588, down about 0.05% from its previous closing price.

The decline comes as investors eye economic data showing a solid labor market in the US, which has strengthened the USD. Additionally, Federal Reserve (Fed) speakers are attending the Jackson Hole Symposium, and their comments are being closely watched for any hints on monetary policy.

Thursday's session saw the GBP/USD pair reach a daily high near 1.3600 but failed to maintain momentum, slipping back below this level as the day progressed. The pair is currently trading at one-week lows of around 1.3675, indicating significant losses for the British Pound.

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