Pound Falls on Geopolitical Tensions as US Payrolls Loom

The Pound to Dollar exchange rate fell on Thursday due to geopolitical tensions and a fresh rise in oil prices. The UK's final manufacturing PMI for September was revised slightly lower, with the index registering 51.9, just below the preliminary reading of 52.

The US Dollar rose on Thursday as investors became anxious amid ongoing geopolitical tensions and threats from US President Donald Trump to 'blow up' Iran if a favourable deal isn't reached. The ISM manufacturing PMI printed below forecasts at 54.5 in September, down from 54.6 and below expectations for 55.

Looking forward, the focus will be on the latest US non-farm payrolls report, which is expected to show the economy added 90,000 jobs in September. A stronger-than-expected reading could propel the Dollar higher, while a weaker reading could see the 'Greenback' slump as markets adjust their bets on Federal Reserve interest rate hikes.