GBP/USD bulls coming to the end of the line in the 1.2580s ahead of NFP By ross_burland GBPUSD NFP Currencies DollarIndex Fed
The markets will now be looking at the US NFP data on Friday.
ADP said small businesses are struggling to keep up with larger businesses when competing for workers. The services sectors added 104,000 jobs, led by a 46,000 increase in education and health services workers. Initial jobless claims decreased by 11,000 to 200,000 in the week ended May 28, lowering the four-week moving average for the first time in nearly two months.
There were no UK data on Thursday's schedule and markets were closed for both Thursday and Friday for the Queen's Jubilee. A further rate increase is expected at the Bank of England's next monetary policy meeting on June 16. In line with expectations, the BoE hiked the Bank Rate by another 25bp to 1.00%. at the start of last month. Attention was on forward guidance and not the rate hike itself which came in slightly dovish.
"We see evidence of a slowdown in the housing market. There are some straws in the wind that show the market is starting to turn," Cunliffe said in an interview with ITV News.
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