GBP/USD: Opportunity for the safe-haven dollar to shine

GBP/USD has been under pressure as coronavirus spreads. US Non-Farm Payrolls and several UK developments are eyed, FXStreet’s analyst Yohay Elam informs.

Key quotes

“The UK death toll has neared 3,000, rising quickly amid a change in methodology, which have been weighing on the pound, and so have the government’s efforts to help businesses, which also seem to fall short.”

“The NFP is set to rock markets and could be another opportunity for the safe-haven dollar to shine. Investors assume that if the US economy suffers, other economies are worse off, and they opt for the world’s reserve currency.”

“The ISM Non-Manufacturing Purchasing Managers’ Index may provide an updated snapshot of how businesses assess the current situation.”