Pound Surges Above $1.3500 as US Jobs Data Disappoints

The British pound rose above $1.3500 against the US dollar on Friday following weaker-than-expected US Nonfarm Payrolls data.

The US economy added fewer jobs than anticipated, leading traders to adjust their expectations for Federal Reserve monetary policy and price in a higher likelihood of interest rate cuts.

With lower interest rates diminishing the yield appeal of dollar-denominated assets, the pound's strength is also supported by expectations that the Bank of England may keep interest rates higher for longer compared to the Fed.