The Pound Sterling (GBP) struggles to hold the key support of 1.3100 against the US Dollar (USD) in Monday’s London session.
The Pound Sterling underperforms the US Dollar as market expectations for the Fed opting for a big interest-rate cut have diminished. US employment growth came in lower than expected in August, while the jobless rate ticked down. This week, investors will majorly focus on the UK Employment and the US inflation data The Pound Sterling struggles to hold the key support of 1.3100 against the US Dollar in Monday’s London session.
The news that while salaries rose last month it was at the weakest rate since March could help make the case for more rate cuts when the Monetary Policy Committee meets to decide the future path of interest rates, Jon Holt, KPMG's UK chief executive and senior partner, said. Technical Analysis: Pound Sterling falls to near 1.3100 The Pound Sterling extends its downside to near the crucial support of 1.3100 against the US Dollar.
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