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Pound struggles near three-month lows as dollar rises on yield rout

GBP/USD was last just above 1.3200 after testing 1.3180 on Thursday, as investors looked ahead to US nonfarm payrolls.

Reported · Written up by our desk · Major Pairs

The British pound edged higher against the US dollar on Friday, with GBP/USD trading just above 1.3200, though it remained pinned near recent lows after hitting 1.3180 on Thursday, according to FXStreet.

FXStreet said the pound was set for a fifth straight weekly decline as a safe-haven US dollar was supported by a rout in global bonds and as markets focused on upcoming US Nonfarm Payrolls data.

The article noted that market consensus calls for 90,000 new jobs in September and an unemployment rate steady at 4.1%, while ADP Employment Change beat expectations earlier this week.

FXStreet added that recent inflation prints have cooled expectations for an October rate hike, but policymakers have signaled tighter conditions ahead, with Dallas Fed President Lorie Logan saying the bank would need to raise rates by at least 50 basis points to get inflation back on track.

Latest closeGBP/USD 1.327 ▲0.1%

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