The pound dropped below the 1.8500
The pound dropped below the 1.8500 mark against the dollar in early trading Friday and now looks to US Non-Farm Payrolls, which are expected to show a healthy 200K increase. Cable trade saw large gains prior to today which prompted some analysts to suggest the currency might retrace. As of 8:20GMT the pair traded at 1.8493, down from the Thursday New York close of 1.8535.
The FTSE was little changed overall in early trade on Friday as oil stocks continued to lose ground after news of larger than expected rise in US gasoline inventories earlier in the week lingered on the agenda. The FTSE 100 was higher at 6,046.9, a rise of 0.1 percent. The mid-cap FTSE 250 rose 0.3 percent to 9,983.1.