Pound Steadies Amid Strong US Jobs Data Ahead of NFP Report

The British Pound held steady against the US Dollar on Thursday despite strong US jobs data ahead of the Nonfarm Payrolls report. The GBP/USD pair traded at 1.3466, after bouncing off daily lows of 1.3404.

US Initial Jobless Claims for the week ending August 1 came in at 199K, exceeding the prior week's print but below estimates of 202K. This suggests that the Federal Reserve may remain focused on tackling high inflation, which has remained above the 2% goal for five years.

The Nonfarm Payrolls report is expected to show an increase of 80K jobs, above June's 57K print. Meanwhile, geopolitics will continue to drive markets, with a possible deal between Iran and Oman potentially reopening the Strait of Hormuz.