UK Unemployment Rate

GBP/USD advanced to its highest level since May, extending a recovery that began after the pair bottomed in June. Traders are weighing a bullish chart structure against a busy run of UK and US macroeconomic data that could fuel near-term volatility.

The U.S. dollar moved higher as rising oil prices boosted demand for safer assets and lifted Treasury yields. EUR/USD, GBP/USD, USD/CAD and USD/JPY remained in focus as traders weighed economic data, central bank expectations and key technical levels.