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GBP/USD Falls by a Cent

Last week’s high: $1.3256

Last week’s low: $1.3028

US Dollar Pushed Higher by Strong Jobs Figures

There was little on the UK economic calendar on Friday, although a decline in new car sales suggested consumers were not feeling confident enough about the economy to make big purchases. Meanwhile, the latest US non-farm payrolls report showed an increase in hiring of 209,000 in July, beating forecasts for 180,000. The unemployment rate fell to 4.3% as expected and odds that the Federal Reserve will hike interest rates in December climbed back above the 50% mark. The US Dollar broadly strengthened after the jobs data was published.

USD Outlook: Will Bullard and Kashkari Undermine Hike Odds?

There is no particularly relevant data due from the US today, but speeches from Federal Reserve officials James Bullard and Neel Kashkari could change bets of further monetary tightening in December. Bullard is considered moderately cautious regarding interest rate hikes, while Kashkari is very cautious, so hopes for a final adjustment in 2017 could fall after they have spoken.

Key Events

7th August

16:45 USD Fed’s Bullard Speaks on U.S. Economy in Nashville, TN

18:25 USD Fed’s Kashkari Speaks in Bloomington, MN

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To keep up to date with the US Dollar, visit the USD blog in our Currency News section.

Arron Morris


Senior Currency Broker
T: 01442 892 065

 

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