Pound Sterling has now reached elevated levels against the U.S. Dollar and will need Thursday's U.S. inflation release to be soft if it is to break fresh ground.
The Dollar was sold after a U.S. labour market report showed conditions continuing to cool, bolstering expectations for an interest rate cut from the Federal Reserve at the September policy meeting.
The Dollar was lower after a U.S. labour market survey printed softer than anticipated and boosted the odds of an interest rate cut at the Federal Reserve in September.
GBP/USD rose after the Chair of the Federal Reserve delivered remarks that were deemed by analysts and market participants to raise the odds of a September interest rate cut.