Currency news / September 9, 2025

More bad news from the BLS?

3 min read Thanim Islam

Thanim IslamSeptember 9, 2025

Market snapshot:

USD weakness the theme for the week?

Yesterday's currency recap

USD extended its post jobs-report losses yesterday with treasury yields continuing to decline.

JPY pared earlier losses following Japan PM Ishiba’s announcement he will step down.

EUR gained ahead of a confidence vote in the French government.

Today's GBP rates

Currency pair	Daily move*	Indicative rate**
GBPAUD	-0.17%	2.056
GBPCAD	0.18%	1.8719
GBPCHF	-0.33%	1.0746
GBPDKK	-0.01%	8.6076
GBPEUR	-0.01%	1.1527
GBPJPY	0.38%	199.922
GBPNOK	-0.24%	13.532
GBPNZD	-0.50%	2.2813
GBPSEK	-0.07%	12.6757
GBPUSD	0.24%	1.3542

*Daily move - against G10 rates at 7:00 am, 09.09.25
** Indicative rates - interbank rates at 7:00 am, 09.09.25

Key data points

Currency	Event	Period	Consensus	Previous
USD	Prelim Benchmark Payrolls Revision	2025	-700,000	-818,000

What we think

Both GBPUSD and EURUSD tested prior resistance levels overnight without any follow through. These levels could well be tested this afternoon with the release of the Bureau of Labour Statistics' payroll revisions in the year through to March. As ever, anything to suggest that the job market is faring worse than expected, and we will likely see projections for three Fed rate cuts this year firm up causing a weaker USD.

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