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Pound falls below $1.37 as US labour market rebounds sharply

Despite breaking the threshold, the pound was up slightly against the greenback

Pound sterling dipped below $1.37 today as the currency continued to fall against its American counterpart.

Despite breaking the threshold, the pound was up slightly against the greenback in afternoon trading.

The fall comes as strong US payrolls data published today indicates the American economic rebound from the pandemic is gathering real pace.

Businesses hired 850,000 workers in June, much higher than May’s 583,000 figure.

Read more: US labour market roars back to life as firms hire 850,000 workers in June