Despite struggling at the start of the week, the Pound Sterling to US Dollar exchange rate gained on Thursday, trending around the 1.24 handle. Due to the disappointing US outlook, traders are keeping away from the USD. 

The Cable’s rebound started as the third quarter of the year began and continued to improve on Thursday. 

Investors are hopeful that a Brexit deal is met, as the Pound would then surge in demand. Currently, the Sterling’s gains are limited as a result of Britain’s coronavirus outlook and the current Brexit talks. 

Capital Economics’ Simona Gimbarini explained, “Our central scenario is that some kind of Brexit deal or delay will be agreed. With this in mind, we think Sterling will rise, however, given recent developments, the risks to our forecasts are to the downside.”

On Thursday, the American Dollar was marked as a safe haven currency, amid the rise in coronavirus cases in the U.S. traders now await the release of U.S. Non-Farm Payroll data.

Moreover, the Pound to Euro exchange rate was trading at 1.1085 – and remained unchanged since the morning. 

Eurostat’s data pointed out that unemployment in the Eurozone went up from 7.3% to 7.4% in May. However, Euro traders are looking at the Eurozone economy as on to complete a recovery in the remainder of the year.