The British Pound weakens slightly against the US Dollar as traders await the US Nonfarm Payrolls report for August.
The British Pound (GBP) retreated below 1.3450 against the US Dollar (USD) on Friday, paring minor gains from the previous two sessions. The move comes as markets adopt a cautious stance ahead of the closely watched US Nonfarm Payrolls (NFP) report, which could influence Federal Reserve policy expectations.
Prior to the release, GBP/USD had climbed modestly, supported by a softer USD and improving risk sentiment. Analysts expect the NFP report to show a gain of around 160,000 jobs in August, following July’s 114,000 increase. A stronger-than-expected print could reinforce bets on Fed rate cuts, weighing on the USD.
Trading volumes remained subdued as investors awaited the data, with the pair consolidating near session lows.