GBP/USD news for August 7, 2026

Sterling softened as the gap between UK and US yields narrowed, while the US Dollar broadly firmed. The latest US jobs report showed a contraction in Non-Farm Payrolls, exposing deeper labor market weakness, which could influence Federal Reserve policy expectations. Meanwhile, the Pound remains rangebound against the Dollar, with the pair unable to break out amid ongoing economic uncertainty.

Updated 16:24 UTC

How the day unfolded

1. 13:24 UTC

   The British Pound remains under pressure as narrowing UK-US yield spreads and a broadly firmer US Dollar weigh on GBPUSD, while the Euro's rejection at key resistance against Sterling adds to the pound's subdued tone. Despite U.S. Non-Farm Payrolls contracting by -23k and downward revisions exposing labor market weakness, the dollar has held its ground, underscoring the market's focus on rate differentials. The pound's inability to break its range reflects ongoing UK recession worries, keeping the pair stuck in a narrow band.

Headlines (14)

• Forex Today: US Dollar struggles as risk flows dominate markets
  www.fxstreet.com · Aug 5, 06:40 UTC
• Sterling today: Pound holds above $1.34 as dollar stays firm on Fed hike risk
  www.investing.com · Aug 5, 08:40 UTC
• United States Dollar Index trades subduedly below 100.00 ahead of US data
  www.fxstreet.com · Aug 5, 11:08 UTC
• British Pound: Sterling pressured into autumn against Euro – Rabobank
  www.fxstreet.com · Aug 5, 13:18 UTC
• Forex Today: Gold surges above $4,240 as US labor data crumbles
  www.fxstreet.com · Aug 5, 21:16 UTC
• Pound Sterling cannot break its range with Britain on recess
  www.fxstreet.com · Aug 5, 22:01 UTC
• The USD is mostly higher vs the major currencies to start the NA session
  investinglive.com · Aug 6, 12:12 UTC
• Forex Today: US Dollar firms ahead of Nonfarm Payrolls as Hormuz risk returns
  www.fxstreet.com · Aug 6, 20:53 UTC
• British Pound remains weaker as UK-US yields narrow, US Dollar strengthens
  www.fxstreet.com · 03:30 UTC
• Euro steadies against the British Pound following another rejection at the 0.8580 area
  www.fxstreet.com · 07:07 UTC
• How have interest rate expectations changed after this week's events?
  investinglive.com · 10:58 UTC
• US Non-Farm Payrolls Contract -23k. Revisions Expose Deeper Labor Market Weakness
  www.actionforex.com · 12:43 UTC
• GBP/JPY Price Forecast: Rebound holds above 200-day SMA
  www.fxstreet.com · 20:05 UTC
• G10 FX Talking: The narrow path to a weaker dollar
  www.hellenicshippingnews.com · 21:01 UTC

Scheduled events

As of 22:24 UTC

• 2026-08-07 — Lloyds HPI m/m · forecast 0.2% · GBP
• 2026-08-07 — Average Hourly Earnings m/m · forecast 0.3% · USD
• 2026-08-07 — Unemployment Rate · forecast 4.2% · USD
• 2026-08-07 — Non-Farm Employment Change · forecast 85K · USD
• 2026-08-07 — FOMC Member Barkin Speaks · USD
• 2026-08-07 — Consumer Credit m/m · forecast 11.4B · USD
• 2026-08-08 — FOMC Member Bowman Speaks · USD
• 2026-08-10 — BRC Retail Sales Monitor y/y · forecast 1.5% · GBP