GBP/USD falters on mixed BoE signals, higher US bond yields

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GBP/USD falters on mixed BoE signals, higher US bond yields
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The British Pound (GBP) extended its losses against the US Dollar (USD), and for the fourth straight day, fell 0.25% after the pair hit a daily high of 1.2308.

GBP/USD continues its downward trajectory, losing 0.25% despite conflicting comments from Bank of England's Chief Economist and Governor. US jobless claims outperform expectations, hinting at a resilient labor market and adding to the debate among Fed policymakers. The British Pound braces for the UK's Q3 GDP report while investors await insights from Fed Chair Powell's IMF panel discussion.

Even though the data paints a tight labor market, last Friday’s Nonfarm Payrolls report showed the economy added 150K jobs, below forecasts of 180K, while witnessing a jump in the unemployment rate to 3.9%. Consequently, a division among the Federal Reserve’s policymakers has begun, with most members adopting a more neutral stance. Still, next week’s inflation report could shift current views on the FOMC’s members. Recently, a US 30-year bond auction hit a yield of 4.

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