GBP/USD news for August 8, 2026

Sterling is under pressure as UK-US yield spreads narrow and the US dollar strengthens, with the latest US jobs report showing a surprise contraction and downward revisions that point to a softer labor market. That data could influence how central bank rate expectations evolve, while broader FX commentary highlights the challenges for any sustained dollar weakness.

Updated 21:12 UTC

How the day unfolded

1. 06:12 UTC

   The British Pound remains under pressure against the US Dollar as the yield differential between UK and US government bonds narrows, while the greenback broadly strengthens. This comes despite US Non-Farm Payrolls contracting by 23k and revisions pointing to deeper labor market weakness, as the dollar finds support from renewed Hormuz risk and shifting interest rate expectations. The combination of these factors has kept GBPUSD trading with a softer tone.

Headlines (10)

• 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 · Aug 7, 03:30 UTC
• Euro steadies against the British Pound following another rejection at the 0.8580 area
  www.fxstreet.com · Aug 7, 07:07 UTC
• How have interest rate expectations changed after this week's events?
  investinglive.com · Aug 7, 10:58 UTC
• US Non-Farm Payrolls Contract -23k. Revisions Expose Deeper Labor Market Weakness
  www.actionforex.com · Aug 7, 12:43 UTC
• Week Ahead – US CPI Data, BoJ Summary and RBA Decision Take the Stage
  www.actionforex.com · Aug 7, 14:18 UTC
• FX Talking: Caught between war and Warsh
  www.hellenicshippingnews.com · Aug 7, 17:00 UTC
• GBP/JPY Price Forecast: Rebound holds above 200-day SMA
  www.fxstreet.com · Aug 7, 20:05 UTC
• G10 FX Talking: The narrow path to a weaker dollar
  www.hellenicshippingnews.com · Aug 7, 21:01 UTC

Scheduled events

As of 21:12 UTC

• 2026-08-08 — FOMC Member Bowman Speaks · USD
• 2026-08-10 — BRC Retail Sales Monitor y/y · forecast 1.5% · GBP
• 2026-08-10 — Cleveland Fed Inflation Expectations · USD
• 2026-08-10 — 30-y Bond Auction · GBP
• 2026-08-10 — 10-y Bond Auction · GBP
• 2026-08-11 — NFIB Small Business Index · forecast 97.8 · USD
• 2026-08-11 — Existing Home Sales · forecast 4.05M · USD
• 2026-08-11 — 10-y Bond Auction · USD