FXStreet (Córdoba) – GBP/USD saw a short-lived spike and printed fresh daily highs after the release of disappointing US nonfarm payrolls report.
Weak US employment data weighs on the dollar
US economy created 223,000 new jobs in June, missing expectations of 230,000 and below a downwardly revised gain of 254,000 in May. The unemployment rate edged lower to 5.3% from 5.5% the previous month but wages were flat and the participation fell.
Separated data showed US initial jobless claims increased by 10,000 to a seasonally adjusted 281,000 in the week ended June 27, above the 270,000 expected.
The greenback fell across the board as downbeat employment data weighed on expectations the Fed could begin raising rates later this year.
GBP/USD rose to a high of 1.5636 before quickly pulling back to mid-range levels. At time of writing, Cable is trading at 1.5608, virtually unchanged on the day.
(Market News Provided by FXstreet)