Pound Falls Below 1.3450 as Markets Await US Jobs Report

The British pound has slipped below 1.3450 against the US dollar as markets adopt a cautious stance ahead of the release of the US Nonfarm Payrolls report.

Market analysts say that a resilient US economy and expectations of higher-for-longer Federal Reserve rates are supporting the dollar, putting pressure on GBP/USD.

The upcoming jobs data is expected to provide fresh clues on the Fed's interest rate trajectory, with a strong jobs report likely to boost the dollar and push GBP/USD lower.

The pound's direction will also depend on upcoming UK economic data, including GDP figures and retail sales, which are due next week. A weak print could revive bets on a sooner-than-expected easing cycle, weighing on the dollar and providing some relief to the pound.