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GBP/USD reclaims 1.28 after UK jobs report
As just noted in the previous update, the Pound rise immediately after the latest UK jobs report buoyed the economic outlook. The GBP/USD had closed last night at 1.2770 and was trading around that level ahead of the report. That was back below the 50 day moving average again, which it had failed to close above last night. That is in place right now at 1.2787. The jobs data has helped to push the Pound back above 1.28 now and that move has come alongside a corresponding fall in the EUR/GBP. That cross has now dropped to new low on the week, underneath 0.8540. The GBP/USD has reached a high so far at 1.2810. The move higher in the GBP/USD has also pushed the GBP/JPY back above 189 again. It rose above that level yesterday, before backing off later in the session. There will be more to add on that cross a little later. Meantime, the GBP/USD is currently trading at 1.2800
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