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Pound slips under 1.3450 as traders eye US Nonfarm Payrolls

GBP/USD remains range-bound since early August, with markets looking for US payrolls growth of about 80K after 57K in June.

Reported · Written up by our desk · Major Pairs

The British pound edged higher versus the US dollar for a second straight day, but GBP/USD slipped to just below 1.3450, according to FXStreet.

FXStreet said the pair has been capped by a wider 1.3400 to 1.3500 range since the start of August as investors hold back on larger bets before the US Bureau of Labor Statistics releases July Nonfarm Payrolls.

Ahead of the report, FXStreet noted markets are expecting an increase to 80K new payrolls from June’s 57K, with the unemployment rate steady at 4.2% and wages rising 0.3% month over month and 3.5% year over year.

FXStreet added that Nonfarm Payrolls can drive sharp forex volatility because it is released as a headline job growth figure covering non-agricultural businesses, and the reaction depends on how traders assess the full package of labor market data.

Latest closeGBP/USD 1.345 ▼0.1%

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