UK Jobs Data Gives BoE Little Reason to Hike as Sterling Lags
Soft UK labour market figures suggest the Bank of England is unlikely to raise rates soon, keeping the pound under pressure.
GBPUSD
The latest UK labour market report offered little support for tighter Bank of England policy. Vacancies are declining, earnings growth is cooling, payroll numbers continue to shrink, and unemployment remains stuck near its recent level.
For the pound, the data reinforce expectations that the BoE will stay on hold rather than signal another rate increase. That leaves sterling exposed to further softness against major currencies.
The tone is cautious: softer jobs and wage trends remove a key reason for near-term hikes, making yield support less convincing for GBP.
Source: FXStreet Forex News