Bank of England (BoE) Governor Andrew Bailey noted that a low-hiring, low-firing environment may persist or quickly shift to a no-hiring, more-firing labor market in a LinkedIn post on Friday
The Pound Sterling (GBP) regains ground against its major currency peers on Friday after a sharp fall the previous day, which was driven by the Bank of England’s (BoE) signal that there is a high chance of an interest-rate cut in the near term.
The USD/CAD pair trades with mild losses near 1.3685 during the early European session on Friday. The US Dollar (USD) softens against the Canadian Dollar (CAD) amid weaker-than-expected US economic data and a rise in crude oil prices.