Bullish
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.
Key points
- GBP/USD climbs to $1.3359 as weak US jobs data dampens Fed rate hike bets.
- Bank of England's cautious stance on rate decisions contrasts with market expectations.
- Political uncertainty in the UK and a US-heavy data week leave the Pound a passenger.
Sources
- Pound To Dollar Price Forecast: GBP Steady As Fed Chair Warsh Backs Inflation FightExchange Rates UK · July 2, 2026
- GBP/USD Price Forecast (July 2): Cable Edges Toward 1.33 as Jobs Miss Softens the Dollar — Key Levels 1.3182 Support, 1.34 Resistance Into the Late-July Fed and BoETrading News · July 2, 2026
- Pound Sterling holds the line, on loan from a cracking DollarFXStreet · July 2, 2026
- GBP/USD Forecast: Pound Sterling Surges as Weak US Payrolls Sinks USDCurrency News UK · July 2, 2026
AI-generated from public news sources. Not financial advice.
