Pound Holds Steady Ahead of US Jobs Data

The British pound held steady on Friday ahead of the release of US employment data that could impact the value of the dollar. Sterling was last at $1.3525, largely unchanged from Thursday's gain of 0.3%. The Bank of England is expected to raise interest rates twice over the next six months.

The data includes August's nonfarm payrolls report, which could see the dollar rise if job growth beats expectations or fall if it falls short. Economists expect the central bank to keep rates unchanged later this month due to soft UK labor market conditions and high energy prices stemming from the Iran war.

A survey by the Bank of England found that British businesses expect to increase their prices slightly less quickly in the year ahead. Despite tensions with Argentina over the Falkland Islands, UK markets showed little sign of stress.