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GBP/USD Remains in a Fragile State.

The British pound, represented by GBP/USD, is in a consolidation phase against the US dollar on this Tuesday. As of now, the current exchange rate for GBP/USD is recorded at 1.2690.

Today, the United Kingdom is set to unveil its labor market statistics, with a particular focus on average earnings data from June. Of significant interest is how this data has evolved. In the previous month, this metric demonstrated a 4.0% increase across the three months leading up to May. There is a strong possibility that these dynamics have maintained their momentum.

Earnings data holds a crucial position as it could offer supplementary insights into the Bank of England's forthcoming actions. Should the statistics prove robust, it could heighten market apprehensions about the potential tightening of the monetary policy.

Furthermore, details regarding the unemployment rate and claimant count change are slated for release.

These statistics will serve as a prelude to the inflation data scheduled for release on Wednesday.

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The post GBP Faces Continued Pressure - Overview  for August 15, 2023 appeared first at R Blog - RoboForex.

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By: Anna Rostova
Title: GBP Faces Continued Pressure - Overview  for August 15, 2023
Sourced From: blog.roboforex.com/blog/2023/08/15/gbp-faces-continued-pressure-overview-for-august-15-2023/
Published Date: Tue, 15 Aug 2023 08:34:37 +0000

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