This afternoon’s non-farm payroll figures saw a total of 275k new jobs created in the US last month, just shy of 100k more than expected. This was accompanied by a 4.1% rise in average hourly earnings in May from the same time last year.
As a result, this has seen the US Dollar gather some bullish momentum and claw back on some of its recent losses. GBP/USD has consequently fallen almost a cent to the bottom of 1.27 territory.
Traders will look to have a keen eye on the UK's employment figures on Tuesday next week, and then importantly Wednesday's pairing of US inflation & the FED interest rate decision that follows after, where no doubt the inflation figures that precede will look to have a huge input on the decision of cutting rates or not.
