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Pound rebounds versus dollar after weak US jobs data

GBP/USD rose more than 0.4% to about 1.3250 after US September payrolls came in far below estimates and unemployment ticked up to 4.2%.

Reported · Written up by our desk · Major Pairs

The British pound strengthened against the US dollar on Friday after a worse-than-expected US jobs report, with FXStreet reporting GBP/USD up more than 0.4% to around 1.3250 after rebounding from lows below 1.3200.

FXStreet said the US unemployment rate rose from 4.1% to 4.2% in September, while the economy added about 29K jobs, well below expectations for 90K, and August payrolls were revised down from 162K to 133K.

The report also shifted expectations for the Federal Reserve, with money markets increasing their view that rates will be kept steady, and pricing out an October hike, according to FXStreet citing Prime Terminal.

FXStreet added that US Treasury yields were largely steady after the data, with the 10-year Treasury note yield at 5.256%, up nearly 1.5 basis points.

Latest closeGBP/USD 1.327 ▲0.1%

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