GBP/USD Eyes Crucial Payrolls Report Amid Cautious Market Mood
The Pound to US Dollar exchange rate has been trading in a narrow range on Thursday as investors remain cautious ahead of Friday's US jobs report.
A strong jobs print could risk a sharp reversal, potentially driving a recovery in the 'Greenback' and limiting the pound's gains to $1.35 or above.
The US Dollar stabilised on Thursday after recent optimism surrounding a potential new US-Iran ceasefire agreement gave way to a more cautious market mood.
Iranian officials stressed that reopening the Strait of Hormuz remained conditional on several outstanding issues being resolved, suggesting a deal could take longer than markets initially hoped.