GBP/USD: Wage growth firms but jobless rises – Scotiabank
|The Pound Sterling (GBP) has softened in line with the EUR through the overnight session, Scotiabank’s Chief FX Strategist Shaun Osborne notes.
GBP slips back from Monday’s peak
“UK data reports were mixed—wage growth picked up again in November but the 5.6% increase in Average Weekly Earnings was a bit below consensus. Payrolls fell a larger than expected 47k in December, however, which may be the data point the BoE homes in on at the February 6th policy decision.”
“GBP has slipped back from yesterday’s intraday peak near 1.2345 but is maintaining a minor uptrend on the USD that has developed over the past week. Support is 1.2220 and 1.2185 (firmer).”
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.