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US ADP slightly below forecasts- GBP/USD extends upside above 1.2700
The US June ADP payroll report has just been released. The number of payrolls has increased by 150k, which was a little shy of expectations, around 160k. The priory 152k gain was revised higher though, to 157k. The reaction across the markets has not materially impacted the USD/JPY yet, but the GBP/USD has edged a little higher above the 1.2700 handle, but it was making progress in that direction long before this data dropped. The GBP/USD is being buoyed by yet more multiyear highs in the GBP/JPY right now. The GBP/USD is currently trading at 1.2714 and it might have further to go
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