# GBPUSD Trades Lower As the US Dollar Rallies Against the Pound

> GBPUSD traded lower on August 31, 2023, as the dollar rallied after hawkish remarks from BoE Chief Economist Huw Pill. Upbeat US jobless claims and in-line core PCE data also supported the dollar ahead of the non-farm payrolls report.

- Date: 2023-08-31 · published 2023-08-31T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/34832-gbpusd-trades-lower-as-the-us-dollar-rallies-against-the-pound
- Commodities: [British Pound (USD per GBP)](https://feedsoft.ai/c/GBPUSD.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

This is routine currency commentary driven by rate expectations and US data, with no direct impact on feed commodity supply or demand.

## Read by commodity

- DXY: bullish ▲
- GBPUSD: bearish ▼

## Sources

- asktraders.com: https://www.asktraders.com/analysis/gbpusd-trades-lower-as-the-us-dollar-rallies-against-the-pound/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.