GBP/USD lost nearly 1% on Friday and registered losses for the week as the US Dollar (USD) rallied on the back of the impressive labor market data for January. The pair holds relatively steady slightly above 1.2600 early Monday but the near-term technical outlook highlights a lack of buyer interest.
Nonfarm Payrolls (NFP) in the US increased by 353,000 in January. Additionally, the Bureau of Labor Statistics announced that it revised the November and December prints by a total of 126,000. In turn, the benchmark 10-year US Treasury bond yield surged above 104.00 and the USD Index, which tracks the USD's performance against a basket of six major currencies, rose more than 0.8% and touched its highest level since early December above 104.00.
Nonfarm Payrolls (NFP) in the US increased by 353,000 in January. Additionally, the Bureau of Labor Statistics announced that it revised the November and December prints by a total of 126,000. In turn, the benchmark 10-year US Treasury bond yield surged above 104.00 and the USD Index, which tracks the USD's performance against a basket of six major currencies, rose more than 0.8% and touched its highest level since early December above 104.00.