It is visible that the currency pair is in the trading range of 13583-13532. This time, the US dollar took the lead, which indicates the speculative priority of the US dollar in the foreign exchange market.
The publication of the UK business activity index in the construction sector in September also added fuel to the fire. Forecasts for these statistics are generally negative, because the decline in the indicator served as a driver in favor of sales. Recall that the marginal value for industrial production in the UK is 50 points, and the actual value for September came out at 52.5.
An additional factor in the pair's decline was the publication of US statistics at the American session. Positive labor market data from ADP for September strengthened the position of the US dollar. This, in turn, is an additional signal from the Fed to change monetary policy. At the last meeting on September 22, the regulator announced the preparation of the necessary conditions for curtailing stimulus measures by mid-2022.
We are once again recording fundamentally strong US news. Every week there are positive publications of US macroeconomic indicators - this significantly highlights the US currency.
At the beginning of the European session, there will be a release of the September UK house price index from Halifax. The latest data came out better than the forecast, and better than the previous one can speculatively strengthen the pound against the US dollar.