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Pound Stabilizes Amid Dollar Weakness
The British Pound rose on Friday as the dollar declined following statements leaning towards monetary easing from a Federal Reserve Board member, which dampened expectations of a rate hike in September. The GBP-USD pair gained 0.15%, reaching 1.3545, while the EUR-USD increased by 0.02% to 1.1628. Market attention was focused on the upcoming non-farm payroll report scheduled for today, with expectations of adding around 30,000 to 55,000 jobs, and the unemployment rate remaining steady at 4.1%. The comments suggest that any tightening by the Fed may be limited, with short-term US Treasury yields falling by 5 basis points and the prospects for a rate hike in September appearing less likely.
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