During European trading, the British Pound increased against the US Dollar, trading above 1.2590 levels.
The GBP/USD currency increased in the European session amid strong labor market data coming from the UK which could hint at fewer rate cuts by the Bank of England in 2025. In the UK, Claimant Count Change data for January was posted showing results higher than expected (22.0K realised vs 10.0K forecasted) and Bank of England Governor Bailey has spoken. In the US, Fed Members Daly and Barr will speak (15:20 and 18:00 GMT respectively). President Trump is also expected to speak this evening.