GBP is trading defensively – Scotiabank

FXStreetNov 12, 2025 2:10 PM

View all comments（0）



The Pound Sterling (GBP) is soft, down 0.2% against the US Dollar (USD) as we head into Wednesday’s NA session, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.

GBP is trading defensively after Tuesday’s jobs data disappointment

"The GBP’s latest recovery looks to have stalled on the back of Tuesday’s employment release that offered broad disappointment across wage growth, jobless claims, and employment growth. The unemployment rate has pushed to a fresh post-covid high of 5%, threatening the December 2020 high at 5.3%."

"UK rate expectations are showing signs of stabilization following Tuesday’s jobs-driven decline, and UK-US yield spreads have bounced back. However, much of the GBP ‘s recent spread-driven gains have been eroded by this latest data disappointment."

Disclaimer: The information provided on this website is for educational and informational purposes only and should not be considered financial or investment advice.

Comments (0)

Click the $ button, enter the symbol, and select to link a stock, ETF, or other ticker.

Commenting Guidelines

Recommended Articles

Kospi Plummets to Trigger Circuit Breaker, SK Hynix Plunges 14%, Samsung Electronics Drops 10%

The KOSPI plunged 8%, triggering circuit breakers, while SK Hynix plummeted 13%, sparking a stampede in tech stocks.

SK Hynix Breaks $1,300 Defense Line, Slumping 10% to Lead South Korean Stock Market

SK Hynix shares plummeted more than 10% today, falling below the 2 million won mark and hitting a one-month low.

NVIDIA (NVDA) Stock Price Forecast July 2026: UAE Export Easing Drove +4% — Is $212 a Double Top?

NVDA jumped 4% on Thursday after the Trump administration eased export controls for the UAE. At $210 the forward P/E has dropped to pre-AI boom levels. But the 4H chart shows a double top at $212. Here’s the week-ahead setup.

Japan and South Korea Stocks Open Lower and Rise: Samsung and SoftBank Continue Supporting Market, SK Hynix and Kioxia Plunge

Japanese and South Korean stock markets recovered from an early-session dip to trade higher, with the KOSPI Index and Nikkei 225 edging up slightly. Samsung Electronics and SoftBank continued to gain momentum, while SK Hynix and Kioxia trended lower.

Western Digital (WDC) Stock Forecast: Melius Targets $1,050 After 84% Margin; Short Setup at $570

TradingKey - Melius Research targets $1,050 for Western Digital. Goldman raised to $650. Q4 earnings are July 29 with consensus EPS of $3.27, up 100%. At $569 in a descending channel, here’s what the bull and bear cases say.

Featured Tools