{"id":100827,"date":"2020-06-04T03:00:55","date_gmt":"2020-06-04T07:00:55","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=100827"},"modified":"2020-06-04T03:56:32","modified_gmt":"2020-06-04T07:56:32","slug":"103343-gbp-usd-pound-snaps-5-day-winning-streak-jobless-claims-up-next","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/103343-gbp-usd-pound-snaps-5-day-winning-streak-jobless-claims-up-next\/","title":{"rendered":"GBP\/USD: Pound Snaps 5-Day Winning Streak, Jobless Claims Up Next"},"content":{"rendered":"<ul>\n<li><strong><a href=\"https:\/\/currencylive.com\/news\/currency\/gbp\/\">Pound (GBP)<\/a> under pressure as Brexit talks stall<\/strong><\/li>\n<li><strong><a href=\"https:\/\/currencylive.com\/news\/currency\/usd\/\">US Dollar (USD)<\/a> advances as risk tone struggles for direction<\/strong><\/li>\n<li><strong>US jobless claims data expected to show unemployment at 19.5% in May<\/strong><\/li>\n<li><strong>At 07:15 UTC, <a href=\"https:\/\/currencylive.com\/exchange-rate\/gbp-to-usd-exchange-rate-today\/\">GBP\/USD<\/a> is trading -0.3% at US$1.2539<\/strong><\/li>\n<\/ul>\n<p>The Pound is heading lower versus the US Dollar on Thursday, snapping a five day winning run. The Pound US Dollar exchange rate had rallied over 2.2% across the last week, settling on Wednesday at US$1.2574 on rising optimism and broad US Dollar weakness<\/p>\n<p>At 07:15 UTC, GBP\/USD is trading -0.3% at US$1.2539, amid a rebound in the US Dollar and as investors fret over Brexit.<\/p>\n<div class=\"su-button-center\"><a href=\"https:\/\/currencylive.com\/exchange-rate\/gbp-to-usd-exchange-rate-today\/\" class=\"su-button su-button-style-flat button-internalbutton\" style=\"color:#ffffff;background-color:#f92658;border-color:#c81f47;border-radius:5px\" target=\"_self\"><span style=\"color:#ffffff;padding:0px 22px;font-size:17px;line-height:34px;border-color:#fb688b;border-radius:5px;text-shadow:none\"> Check real time GBP to USD exchange rate<\/span><\/a><\/div>\n<p>UK data offered some support to the Pound in the previous session, revealing higher than forecast businesses activity in the UK\u2019s dominant sector. The IHS\/Markit service sector PMI increased to 29 in May, up from April\u2019s 13.4. Whilst this is certainly a step in the right direction, activity remains a long way off the level 50 which separates expansion from contraction.<\/p>\n<p>Brexit is weighing on the Pound, as trade talks continue across the week. Little progress appears to have been made. Bank of England Governor Andrew Bailey has warned banks to step up their no deal Brexit preparations as talks between the EU and the UK stall.<\/p>\n<p>Prime Minister Boris Johnson and European Commission President Ursula von de Leyen are due to meet later this month. Investors are hoping that they will inject political momentum into the deadlocked situation.<\/p>\n<p>The US Dollar is picking up after 5 straight sessions of declines. Rising optimism surrounding the reopening of economies had sapped the appeal of the safe haven greenback, as did significantly better than forecast US ADP private payroll data. 2.7 million private sector jobs were lost in May. This was significantly better than the -9 million forecast and a vast improvement on April\u2019s -25 million.<\/p>\n<p>Broadly speaking the market\u2019s risk tone is struggling for direction on Thursday amid a lack of major events. President Trump attempted to keep optimism flowing by reiterating his decision to not use military action to tame the riots on the streets on America. He also stepped back from sanctions on Chinese over Hong Kong.<\/p>\n<p>Investors will now look head to the release of jobless claims data. Analysts are expecting the figures to show that unemployment soared to 19.5% in May, the highest level since 1930\u2019s.<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Pound (GBP) under pressure as Brexit talks stall US Dollar (USD) advances as risk tone struggles for direction US jobless claims data expected to show unemployment at 19.5% in May At 07:15 UTC, GBP\/USD is trading -0.3% at US$1.2539 The Pound is heading lower versus the US Dollar on Thursday, snapping a five day winning [&hellip;]<\/p>\n","protected":false},"author":163946597,"featured_media":5076,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1379,1381],"tags":[1386,1394,1536,1391,1397,1398],"class_list":["post-100827","post","type-post","status-publish","format-standard","has-post-thumbnail","category-gbp","category-usd","tag-brexit","tag-gbp","tag-jobless-claims","tag-pound","tag-us-dollar","tag-usd"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.0 - 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