GBP/USD Exchange Rate Seeks Momentum Amid Softer US Labour Data

The Pound-Dollar exchange rate has been in focus this week, with some analysts suggesting it could regain momentum and reach $1.35 if softer US labour market data weighs on the Greenback.

However, improving US manufacturing may limit Sterling's upside, as the stronger data helped the US Dollar recover from its initial decline at the start of the week.

The GBP/USD exchange rate briefly touched a two-week high but retreated as US manufacturing data improved, reaching $1.3444 and down approximately 0.2% on the day.

Looking ahead, Tuesday's US Job Openings and Labor Turnover Survey (JOLTS) and factory orders figures will provide major catalysts for the Pound to US Dollar exchange rate, with job openings expected to edge lower and factory orders forecast to rebound after May's 1.3% decline.