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GBP Retreats from Three-Month High as Labour Market Data Fades

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The GBP/USD exchange rate retreated on August 18 after softer UK labour-market data led to profit-taking following Sterling's recent advance.

GBP/USD had climbed to three-month highs above 1.3570 on Monday as weaker US economic data reduced expectations for another Federal Reserve interest-rate increase.

The pair subsequently slipped back towards 1.3520 on Tuesday, although it remained comfortably above the 1.3500 level.

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