The Pound Sterling advances on Thursday during the North American session, up 0.25% after US economic data revealed that the labour market remains solid, despite a weaker Nonfarm Payrolls in July.
The GBP/USD trades at 1.3639 after reaching a daily low of 1.3594
GBP/USD rises as UK inflation offsets solid US labor data The Greenback has recovered some ground after posting losses, following the US Department of the Treasury’s announcement of a bond buyback program. The Treasury’s goal is to provide liquidity for the long end of the curve, but markets interpreted the move as a form of Yield Curve Control (YCC). The US Dollar Index (DXY), which measures the buck’s performance against a basket of six currencies, remains steady at 98.79, after refreshing two-and-a-half-month lows at 98.55, a level last seen in May 14.
Data-wise, the US Initial Jobless Claims for the week ending August 15, dipped from 212K down to 206K, below forecasts of 210K. At the same time, the 4-week average of jobless claims edged up from 199.75K to 204K, an increase of 5K. Recently, Fed officials crossed the wires.