Pound Steady as Dollar Resilience Continues

The British pound has been steady on Wednesday, trading at $1.3466 as of 04:28 ET (08:28 GMT), up 0.13% from the previous day.

The euro, meanwhile, has edged closer to its recent highs against the dollar, but is struggling to gain momentum due to the broad resilience of the dollar.

According to ING's Chris Turner, the key story behind the dollar's strength is the lingering market expectations that the Federal Reserve could still hike interest rates on September 16.

The Fed's potential rate hike has been priced in at around 14 basis points, down from 16/17bp at the start of the week, following softer JOLTS job openings data. However, Friday's U.S. July nonfarm payrolls report remains a dominant catalyst, and regional survey data suggests continued strength in services, limiting scope for a sharp dollar selloff.