GBPUSD seems to have gone into consolidation mode on Monday. Dollar is holding its ground at the start of the week. The pair could face renewed bearish pressure with a drop below 1.3520. Forex FX Trading
Dollar is holding its ground at the start of the week.has started the new week in a calm manner after closing the previous week in the positive territory despite Friday's decline. The pair is having a difficult time making a decisive move in either direction early Monday but a drop below 1.3520 could attract sellers.
The US Bureau of Economic Analysis reported that Nonfarm Payrolls increased by 467,000, surpassing the market expectation of 150,000 by a wide margin. Moreover, the annual wage inflation rose to 5.7% from 5%, ramping up the 50 basis points March rate hike probability to 30% from 8%. snapped a five-day losing streak on Friday. The DXY is posting small gains above 95.50 in the European session.
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