GBPUSD Slips Below 1.3400 as Blowout US Payrolls Fuel Dollar

Sterling weakened sharply on June 5 as stronger-than-expected US nonfarm payrolls (+272k vs 185k) reinforced Fed hawkishness and lifted the dollar, driving GBPUSD below 1.3400. The move capped a volatile week that began with weak UK housing data, saw services PMI contract to 49.3, and featured a brief geopolitical rally toward 1.2700 before robust US hiring reversed sentiment. Halifax prices also missed forecasts, leaving the pound vulnerable to further downside against a resurgent dollar.