Pound Sterling gains on steady UK employment data
The Pound Sterling (GBP) attracts bids against its major peers on Tuesday, reaching its highest level in more than two months against the US Dollar, after the release of the United Kingdom (UK) labor market data for the three months ending July. The Office for National Statistics (ONS) reported that the Unemployment Rate remained steady at a four-year high of 4.7%, as economists had expected. Read more…
GBP/USD edges higher on USD weakness – BBH
Pound Sterling (GBP) gained modestly against the dollar but underperformed the euro as stagnant productivity, soft labor demand, and sticky wage growth underscore the UK’s stagflation risk, BBH FX analysts report. Read more…
GBP: Jobs data won’t dent hawkish BoE – ING
We’ve just seen the release of UK jobs data for August. Unlike in the US, where the ‘solid’ labour market crumbled this summer, payrolled job losses were only a modest 8k in August. And there were no surprises in the earnings data, which remains at 4.7/4.8% YoY, ING’s FX analyst Chris Turner notes, ING’s FX analyst Chris Turner notes. Read more…
