{
  "id": 11229031,
  "title": "British Pound buckles as DXY nears 102 on US jobs, factory strength",
  "url": "https://urgent.news/2026/10/01/british-pound-buckles-as-dxy-nears-102-on-us-jobs-factory-strength",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-01T15:45:32.000Z",
  "source": {
    "name": "FXStreet",
    "slug": "fxstreet",
    "url": "https://www.fxstreet.com/news/british-pound-buckles-as-dxy-nears-102-on-us-jobs-factory-strength-202610011545"
  },
  "original_language": "en",
  "account": "The British Pound (GBP) weakened by more than 0.44% on Thursday as US manufacturing activity and job data indicated a robust labor market. Consequently, the US Dollar (USD) strengthened alongside higher US yields. The GBP/USD pair traded at 1.320, its lowest since June 26, after bottoming at 1.3182. Market sentiment was bleak due to the ongoing US-Iran conflict and the absence of an imminent resolution. Reports suggested a US official would deploy three aircraft carriers and two landing groups around Iran by the end of November. Oil prices remained buoyant, US Treasury yields were elevated near 2000s levels, and the USD Index (DXY) rose 0.47% to 101.94, nearing the 102.00 mark. The US 10-year Treasury note dropped 1 basis point to 5.277%. Despite strong US economic data, the ISM Manufacturing Index for September came in at 54.5, below expectations of 55. The sub-components of new orders and employment both increased, with new orders rising to 55.3 and employment reaching 52.7. Inflationary pressures were evident in the ISM Prices Paid component, rising from 71.1 to 77.1, surpassing forecasts of 72.3. Initial Jobless Claims for the week ending September 26 were reported at 197K, below forecasts of 200K and compared to the previous week's 198K. A softer reading on the Fed's gauge of inflation, the core PCE, dampened expectations of a rate hike at the October meeting, reducing the probability from around 38% to 30%, according to Prime Terminal. In the UK, Prime Minister Andy Burnham's speech hinted at potential changes to pensions and a return to the European Union, which could positively impact the foreign exchange market following the Brexit vote in 2016. The daily GBP/USD chart displayed a bearish near-term bias, trading below the cluster of key simple moving averages and broken trend lines. The Relative Strength Index (14) at 29.9 suggested bearish momentum was stretched but did not signal a confirmed reversal. The 50-, 100-, and 200-day SMAs, represented by the latest triple moving average at 1.3455, were well above the current price, reinforcing a capped tone. The next key data releases would come from the US Nonfarm Payrolls report and further Federal Reserve speeches.",
  "summary": "The Pound Sterling (GBP) dives by over 0.44% on Thursday, as business activity in the manufacturing sector remains solid in the US, while US jobs data confirmed the strength of the labor market. Consequently, this pushed US yields and the US Dollar higher.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "FXStreet",
        "title": "British Pound tests 1.3200 as higher US yields and risk-off markets boost US Dollar",
        "url": "https://urgent.news/2026/10/01/british-pound-tests-1-3200-as-higher-us-yields-and-risk-off-markets",
        "published": "2026-10-01T10:55:43.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}