GBP Trades Sideways Ahead of US NFP Data Release

The British Pound (GBP) is trading marginally lower at around $1.3460 against the US Dollar (USD) during the European session on Thursday.

Investors are awaiting the release of the United States' (US) Nonfarm Payrolls (NFP) data for July, which will be released on Friday.

Economists at Deutsche Bank expect a modest gain in employment growth, with 65,000 new jobs added in July, slightly above June's reading of 57,000.

The labor market's slack is expected to remain at 4.2% unemployment rate, although there are risks of it rising to 4.3% if labor force participation rebounds after last month's decline.