Pound-Dollar Rate Forecast to Remain Heavy into U.S. Jobs Report
– USD benefiting amidst ‘risk off’
– Aided by Fed hike expectations
– Next key event is Friday’s payroll data
– USD forecast to remain supported until Nov. by ThinkMarkets
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- GBP/USD reference rates at publication:
- Spot: 1.3586
- Bank transfers (indicative guide): 1.3210-1.3306
- Money transfer specialist rates (indicative): 1.3464-1.3518
- More information on securing specialist rates, here
- Set up an exchange rate alert, here
The Dollar is expected to retain its dominance ahead of the U.S. non-farm payroll report scheduled for release on Friday, helped by nervous investor sentiment.
The Dollar advanced on Wednesday thanks to a renewed selloff on global markets which comes as investors price in lower growth rates amidst chronic global supply chain issues and rising inflation.
“The reasons behind the USD rally are quite clear. Financial and economic concerns about China…