GBP weak, down 0.5% on broad labor market disappointment – Scotiabank

The Pound Sterling (GBP) is weak, down 0.5% against the US Dollar (USD) and a mid-performer among the G10 in an environment of risk aversion and broad-based USD strength, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.

Pound sips on softer jobs data and narrowing yield spreads

"Domestic employment data were weaker than expected with softer wage growth and a lower than expected headline jobs gain. Yield spreads have narrowed modestly from their recent local highs, eroding some of the GBP’s fundamental support. short-term rates markets are still only pricing about 10bpts of tightening by December."

Oct 14, 2025

EUR down marginally vs. USD – Scotiabank

The Euro (EUR) is soft, down a marginal 0.1% against the US Dollar (USD) but outperforming most of the G10 currencies into Tuesday’s NA session.

JPY is outperforming with 0.2% gain – Scotiabank

The Japanese Yen (JPY) is outperforming with a 0.2% gain, strengthening on the back of renewed haven-driven gains in an environment to trade-related risk aversion as markets eye the state of the US-China relationship, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.