GBP/USD oscillates around 1.1700, spotlight shifts to US NFP
The GBP/USD pair has turned sideways after facing barricades around 1.1750 on Monday. The cable is oscillating in a narrow range of 1.1700-1.1710 in the early Tokyo session as investors are arranging their trades ahead of the US Nonfarm Payrolls (NFP), which will release later this week. On a broader note, the asset has displayed a pullback move after remaining in a negative trajectory.
Pound is plunging on the news
The Pound Sterling continues plummeting against the USD; by now, it has already dropped to 1.1660. Apart from the strong USD factor, the Pound is being significantly pressured by domestic news. Britain’s energy regulator announced Friday that energy bills for households in the UK would rise by 80% in October.