Sterling hovers just below 10-month high, with focus on U.S. job numbers
Timilehin Adejumobi
1 min read
The pound hovered just below its highest level in 10 months on Thursday as investor focus turned to Friday’s U.S. jobs numbers.
Sterling was last flat at $1.246, having touched its highest level since June – $1.253 – on Tuesday.
Markets were subdued across the board on Thursday ahead of the release of the U.S. non-farm payrolls employment data on Friday.
It will be a key factor in the Federal Reserve’s next interest rate decision and could cause volatility in markets.
“There is a semblance of calm about today’s trading session in the absence of any major data,” said Simon Harvey, head of FX analysis at Monex Europe.
“Price action instead is likely to be determined by expectations for tomorrow’s payrolls print.”
The U.S. jobs market has remained resolutely strong, keeping the pressure on the Fed to raise interest rates to tackle inflation. Yet analysts expect the U.S. to have added 239,000 jobs in March, a slowdown from February’s 311,00 figure.
The pound was also little changed against the euro , with a euro changing hands for 87.51 pence.
This report’s information was first seen on ZAWYA; to read more, click this link.
