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UK jobs data in the spotlight for the GBP/USD this morning

Yesterday the GBP/USD did slip to a new interim low (underneath 1.2694). The low seen was set at 1.2688, but it did not stay down there for long and as the dollar edged lower into the European close, the Pound rose above 1.2730 and later posted a US close at 1.2731. It has reached a high so far today at 1.2739. At 6am GMT we will get the latest monthly jobs reports from the UK, covering the May payroll count and the 3 months data to April. This will have an impact on the Pound and right now the markets are waiting to see, if there is a bounce back in the data recorded last time, which was not especially encouraging. The markets do expect another drop in the employment numbers though. Paid employment fell by 178k in the 3 months to March. It is forecast to fall by 98k in the 3 months to April. There will be more to add, when the data is released a little later this morning. The GBP/USD is currently trading at 1.2736
 

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