FXStreet (Córdoba) – GBP/USD fell sharply to its lowest level in 3 days dragged by stronger-than-expected US nonfarm payrolls figures.
The US economy created 280,000 jobs in May, following 221,000 in April and 225,000 expected by analysts. The unemployment rate edged higher to 5.5% from 5.4% the previous month, but mainly because more people entered the labor force in search of work.
GBP/USD lost 100 pips as the knee-jerk reaction and hit a low of 1.5220. The pair continues to trade at lows as investors digest data, recording a 0.89% loss on the day and having turned negative for the week.
(Market News Provided by FXstreet)