North American Summary and Highlights 11 Nov
Overview - GBP slipped after UK labor market data but labor market concerns also weighed on the USD.
European and North American sessions
The GBP weakened after UK labor market data with GBP/USD falling to 1.3120 from 1.3170 and EUR/GBP rising to .88 from .8780. EUR/GBP largely sustained its gains in North America but GBP/USD erased its losses, returning to 1.3170 as the USD weakened.
USD weakness was largely a response to weekly ADP employment data, showing an average job loss of 11,250 in the four weeks to October 25, contrasting positive monthly data surveyed the week before. Equities however were firmer. EUR/USD picked up from 1.1575 to briefly clear 1.16 before correcting to 1.1590. USD/JPY fell to 153.75 from 154.15 before recovering to 154.10. USD/CAD was softer at 1.4010 from 1.4030 but AUD/USD was little changed around .6530.