GBP/USD Rallies as Soft JOLTS Data and Oil Decline Pressure USD

The British Pound rebounded on Tuesday, rising 0.14% against the US Dollar as soft JOLTS data and declining oil prices weighed on the Greenback.

According to the US Job Openings and Labor Turnover Survey (JOLTS) in June, job openings dipped from 7.537 million to 7.359 million, below forecasts of 7.4 million.

Vacancies fell due to a slowdown in healthcare, wholesale trade, business services, and leisure and hospitality sectors.

The limited layoffs suggest low firing and hiring rates, with about one vacancy for each unemployed worker, indicating a balanced labor market.