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GBP/USD · GBPUSDBullish
GBP/USD rises to $1.3359 after weak US jobs data reduces Fed rate hike expectations
In the past 24 hours, GBP/USD has strengthened, reaching $1.3359, following a weaker-than-expected US non-farm payrolls report for June, which showed an addition of only 57,000 jobs compared to the anticipated 110,000. This miss has led investors to scale back expectations for future Federal Reserve rate hikes, thereby weakening the US Dollar and providing support for the British Pound.
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