Pound to Dollar Rate JOLTed Higher
- Category: USD
The wild ride in FX continues with the Dollar falling sharply following a U.S. labour market report that pointed to weakness in the U.S. job market.
After a poor August, the Dollar has roared back into life and is pushing the Pound lower again. One currency payment specialist thinks GBP/USD could go below 1.30.
Pound Sterling weakness in September shows markets are nervous about strong U.S. data that would put to rest expectations for a 50 basis point rate cut from the Federal Reserve on September 18.
Pound Sterling's uptrend against the Dollar could experience a deeper setback this week if U.S. labour market data beat expectations.