GBPUSD

Ahead of the critical employment data to be announced on Friday, U.S. markets will open with the Labor Day holiday, and the Fed's policy direction will be closely monitored following the employment figures. The expectation of a 25 basis point rate cut at the meeting on September 17 remains a 90% likelihood, while the previous month's employment data indicates a sensitive period for the process. Today, inflation data from the Eurozone and the ISM Manufacturing PMI data from the U.S. will be followed.

The Classic Dollar Index continues to move within a narrow band between 97.40 and 98.50. A sustained move above 98.50 could bring psychological levels of 100 and theoretical levels of 101.05 into focus, while movements below 97.40 could reintroduce long-term buyers to the 200-month average (95.40). Maintaining a level above 97.40 today could create a wave of new optimism.