5 Jun 2015
GBP/USD falls toward 1.5200 after US nonfarm payrolls
FXStreet (Córdoba) - GBP/USD fell sharply to its lowest level in 3 days dragged by stronger-than-expected US nonfarm payrolls figures.
The US economy created 280,000 jobs in May, following 221,000 in April and 225,000 expected by analysts. The unemployment rate edged higher to 5.5% from 5.4% the previous month, but mainly because more people entered the labor force in search of work.
GBP/USD lost 100 pips as the knee-jerk reaction and hit a low of 1.5220. The pair continues to trade at lows as investors digest data, recording a 0.89% loss on the day and having turned negative for the week.
The US economy created 280,000 jobs in May, following 221,000 in April and 225,000 expected by analysts. The unemployment rate edged higher to 5.5% from 5.4% the previous month, but mainly because more people entered the labor force in search of work.
GBP/USD lost 100 pips as the knee-jerk reaction and hit a low of 1.5220. The pair continues to trade at lows as investors digest data, recording a 0.89% loss on the day and having turned negative for the week.