The Great Britain pound ended Friday weaker against the US dollar and the euro, but managed to rise against the Japanese yen. The currency was able to keep its weekly gains against other most-traded currencies, including the greenback.
US employment surged by 204,000 jobs in October. This easily explains the weakness of the sterling against the US currency. The drop against the euro is harder to explain.
Domestically, the UK currency is supported by mostly good fundamentals, though the persisting trade deficit is not helping. Economists expect that the centrals bank economic outlook, which is scheduled to be released next week, will be more optimistic than the previous one.
GBP/USD slid from 1.6093 to close at 1.6011, reaching 1.5956 intraday. EUR/GBP ticked up from 0.8335 to 0.8341. GBP/JPY went up from the opening of 157.86 to the closing price of 158.75.
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