6 Mar 2015
GBP/USD falls to fresh 1-month lows after upbeat NFP
FXStreet (Córdoba) - GBP/USD fell to fresh 1-month lows as the dollar strengthened on the back of better-than-expected US nonfarm payrolls.
US economy added 295,000 new jobs in February, above the 240,000 expected by analysts. However, January gain was downwardly revised to 239,000 from 257,000 previously estimated. The unemployment rate dropped to 5.5% from 5.7% the previous month.
GBP/USD initially moved a tad higher but quickly turned south, dropping more than 100 pips in a matter of minutes. GBP/USD bottomed out at 1.5116 and it is currently trading at 1.5140, recording a 0.64% loss on the day.
US economy added 295,000 new jobs in February, above the 240,000 expected by analysts. However, January gain was downwardly revised to 239,000 from 257,000 previously estimated. The unemployment rate dropped to 5.5% from 5.7% the previous month.
GBP/USD initially moved a tad higher but quickly turned south, dropping more than 100 pips in a matter of minutes. GBP/USD bottomed out at 1.5116 and it is currently trading at 1.5140, recording a 0.64% loss on the day.