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Forex

GBP/USD Tumbles on Weak US Jobs Report

Guavy AI Editorial Team
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USD GBP
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The GBP/USD pair traded lower on Tuesday, hovering around 1.3500 during the European trading session.

The US Dollar (USD) ticked up, causing the Cable to edge down, but financial markets remain skeptical about a sustained recovery in the face of weak United States (US) Nonfarm Payrolls (NFP) data for July.

Economists at ING described the July US jobs report as 'surprisingly weak,' citing a 23k decline in nonfarm payrolls and significant downward revisions to past months' data, which has dragged the 3M average gain in payrolls down to just 20,000.

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