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Pound Gains as Euro Holds Steady
The currency market experienced a partial decline in the value of the US dollar, supported by the end of the Bank of Japan's intervention to prop up the yen and a reduction in speculative positions. Meanwhile, expectations of a 65% chance of a US interest rate hike in September remain. At the same time, the British pound rose to 1.3440 dollars, while the euro remained steady at 1.1509 dollars, although the euro valuation model indicates it is trading approximately 0.5% above its true intrinsic value. Markets are now focusing on US labor market data, especially the non-farm payroll report, which is expected to show an increase of around 80,000 jobs and will influence upcoming monetary policy expectations.
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