The GBP/USD pair consolidates its recent losses above the 1.2500 area during the early European trading hours on Tuesday. The major pair currently tra
The latest data UK’s Office for National Statistics revealed that theRate in the three months to July came in at 4.3% from 4.2% in the previous reading, in line with the market consensus. Meanwhile, Employment Change for July declined by 207K from a 66K drop in the previous reading, worse than the estimated 185K drop. The Average Earnings Including Bonus in the three months to July rose by 8.5% versus 8.2% prior. Excluding bonus, the figure remains at 7.8%, as expected.
US Treasury Secretary Janet Yellen said on Sunday that she is becoming more convinced that the US will be able to curb inflation without causing major impacts on the labor market. She added that every gauge of inflation is erasing and there was no massive wave of layoffs. Market players will shift their focus to the monthly UK GDP report and Manufacturing Production for July due on Wednesday. Also, the highly anticipated US
data will be released in the North American session on Wednesday. Traders will find the trading opportunity around the GBP/USD pair.
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