UK labour data seen backing Bank of England hold: TD Securities
TD Securities expects a soft but stable UK labour market in June, reinforcing expectations that the Bank of England will keep rates on hold.
GBPUSD
TD Securities expects the UK labour market to remain soft but stable in June. The bank projects employment rising by 100k on a three-month basis and unemployment edging down to 4.7%.
Headline average weekly earnings are forecast to slow to 4.0%, while ex-bonus pay is seen holding at its prior pace. The data is expected to support a Bank of England hold.
This comes as markets continue to assess the outlook for UK monetary policy against a cooling but resilient labour market.
Source: FXStreet Forex News