Investing.com – The pound advanced to hit a 3-day high against the U.S. dollar on Monday, as risk appetite carried over from Friday’s trade session, after better-than-expected U.S. jobs data helped alleviate fears over global economic growth.
GBP/USD hit 1.5490 during European morning trade, the pair’s highest since September 1; the pair subsequently consolidated at 1.5464, gaining 0.07%.
Cable was likely to find support at 1.5326, the low of August 31, and resistance at 1.5575, the high of August 30.
On Friday, a report from the U.S. Bureau of Labor Statistics said nonfarm payroll employment fell less-than-expected in August, declining by a seasonally adjusted 54,000, after falling a revised 54,000 in July.
Analysts had expected non-farm payrolls to decline by 101,000 in August.
The data also showed that private-sector payroll employment continued to trend up, adding 67,000 jobs in August, after adding a revised 107,000 jobs in July.
U.S. President Barack Obama called the unemployment figures "positive news", but added, “It’s not nearly good enough.”
The pound was also up against the euro, with EUR/GBP shedding 0.06% to hit 0.8341.
Later in the day, the U.K. was expected to produce important industry data on retail sales, while U.S. markets are closed for the Labor Day holiday.
GBP/USD hit 1.5490 during European morning trade, the pair’s highest since September 1; the pair subsequently consolidated at 1.5464, gaining 0.07%.
Cable was likely to find support at 1.5326, the low of August 31, and resistance at 1.5575, the high of August 30.
On Friday, a report from the U.S. Bureau of Labor Statistics said nonfarm payroll employment fell less-than-expected in August, declining by a seasonally adjusted 54,000, after falling a revised 54,000 in July.
Analysts had expected non-farm payrolls to decline by 101,000 in August.
The data also showed that private-sector payroll employment continued to trend up, adding 67,000 jobs in August, after adding a revised 107,000 jobs in July.
U.S. President Barack Obama called the unemployment figures "positive news", but added, “It’s not nearly good enough.”
The pound was also up against the euro, with EUR/GBP shedding 0.06% to hit 0.8341.
Later in the day, the U.K. was expected to produce important industry data on retail sales, while U.S. markets are closed for the Labor Day holiday.