US Treasury yields rise after stronger-than-expected JOLTS data, weighing on GBP/USD before key US jobs report.
The British Pound fell 0.22% to 1.3234 against the US Dollar in European trading, pressured by a 0.1% rise in 10-year US Treasury yields to 4.67%. The Dollar Index (DXY) climbed 0.2% to 101.36, supported by improving US labor market data.
US JOLTS job openings for May reached 7.594 million, exceeding estimates of 7.3 million and the prior 7.585 million. The data reinforced expectations of a resilient US economy, driving bond yields higher.
Investors now await Thursday’s US Nonfarm Payrolls report, which could fuel further volatility in GBP/USD. Market focus remains on US economic indicators amid shifting rate cut expectations.