GBP is up against most major currencies this morning, check latest exchange rate here, while the US dollar rebounded yesterday on the back of comments from various Federal Reserve speakers and ahead of the big US jobs report today.

Among the Fed speakers, Minneapolis Fed chief Neel Kashkari, who used to be a dovish member of the policymaking committee, said that the US central bank was “quite a ways away” from pausing its rate hike cycle, while Chicago president Charles Evans, another reformed dove, said rates would be near 4.5-4.75% by the spring of next year, with the market pricing terminal rates at the lower end of that range at 4.55% as of March.

Topping that, US Treasury Secretary, and ex Fed head, Janet Yellen urged central banks of major economies to keep fighting inflation, though she mentioned the potential “international spillovers” to the global economy.

The dollar index rose from the midweek lows around 110 to above 112 yesterday and up to 112.4 this morning, while EUR/USD fell from above 0.992 to below 0.980 yesterday and dropped to almost a one-week low below 0.977 this morning.

Similarly, the pound lost ground but is attempting to battle back in the London session, having dropped from 1.1350 to around 1.11 yesterday, and again bouncing at that level this morning, before rising 0.4% to 1.12096 lately.

Worrying markets were fresh signs that the recent market turmoil is impacting the mortgage market, along with warnings on the energy front from National Grid.

Markets are going to be obsessing about the US non-farm payrolls today, with US inflation next week.

For today’s jobs print the consensus forecast is for around 250k, which would be the slowest pace of monthly job growth since April last year, though pretty solid versus the long-term average.

It could also push the unemployment rate down to 3.6%.

With the futures market currently predicting a 75 basis points rate hike from the Fed at its next meeting, a strong NFP report today would cement those expectations.