The Cable failed to hold gains and tumbled toward 1.3800 amid a solid US dollar during the American session. However, the US Dollar strengthened on the back of end-of-month flows.
The GBPUSD pair is under pressure, trading slightly above the 1.3800 zone. The greenback remains strong with USD/JPY above 111.00 and the DXY up 0.40%, at the highest since April, even as US yields drop and amid mixed results in Wall Street. End-of-month flows contribute to the dollar’s strength.
Economic reports from the US showed a larger-than-expected increase in private payrolls by 692,000 in June as reported by ADP. On Friday, the non-farm payroll report is due. Pending Home Sales rebounded in May 8%.
Today the UK will publish its Final Manufacturing PMI and in the US Unemployment Claims and also their ISM Manufacturing PMI figures of the month.
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