The Pound Sterling rises 0.12% against the US Dollar after softer-than-expected US employment data weighs on the greenback.
The GBP/USD pair climbed 0.12% on Wednesday as the US Dollar extended losses for a second consecutive session. The move followed weaker-than-anticipated US jobs data, which offset strong service sector activity and fueled expectations of a softer labor market outlook.
Prior to this, the Dollar had faced pressure from mixed economic signals, though service sector expansion remained robust. Market focus now shifts to Friday’s non-farm payrolls report, which could further influence Federal Reserve policy expectations.
The currency pair traded near session highs as investors reassessed the Dollar’s near-term trajectory amid shifting rate cut bets.