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Pound To US Dollar: Uphill Battle For Gains
The Pound to Dollar (GBP/USD) exchange rate overall posted significant losses during the week and hit 4-week lows just below 1.2625 after the Bank of England policy decision before a rally to the 1.2700 area. The weaker-than-expected headline increase in US non-farm payrolls triggered dollar losses and GBP/USD rebounded further to 1.2760. With fragile risk conditions, GBP/USD will still find it difficult to make significant headway unless or until the Federal Reserve declares victory in the inflation battle. US Payrolls Increase Below Expectations: The monthly labour-market report recorded an increase in non-farm ... (full story)