GBP/USD Takes Hit Ahead of JOLTS Job Openings Data

The British Pound (GBP) is down 0.15% against the US Dollar (USD), trading at around 1.3234 in early European trading on Tuesday.

The USD is boosted by upcoming JOLTS Job Openings data for August, which will be published at 14:00 GMT and could influence Federal Reserve interest rate expectations.

Analysts at HSBC point out that markets have already priced in almost 100 basis points of monetary tightening by the Bank of England (BoE) in one year but warn that higher energy prices create a difficult policy mix, leaving the Pound vulnerable to further pressure.