The GBP/USD pair is trading below the 1.3300 mark on Wednesday morning in the Asian Trading session ahead of the US ADP employment data report. The British pound fell by over 0.70% on Tuesday and is down by 0.20% today against the US dollar. The War between Russia and Ukraine has resulted in heightened volatility in the financial market and as a result of this, investors opt for safe-haven assets like the US dollar or Japanese yen.
More strict financial sanctions on Russia from major western powers have boosted the demand for the US dollar while undermining the strength of the British pound. Therefore, the bearish sentiment in the GBP/USD pair remains intact.
