The Pound to Dollar exchange rate rose and stocks tanked after a highly anticipated U.S. job report confirmed unemployment continues to rise as the economy slows.
Leading U.S. investment banks have laid out their strategies and forecasts for Dollar exchange rates as the countdown to the U.S. election approaches.
Some heat has been taken out of the Dollar after a measure of the U.S. labour market showed unexpected weakness, bolstering chances for further Federal Reserve rate cuts beyond September.
The Dollar was remarkably unfazed by the Federal Reserve's commitment to cut interest rates in September, but Pound Sterling is floundering ahead of the Bank of England decision.