Forex
GBP/USD Retreats Amid Softer Wage Growth and Loosening Labour Market
The GBP/USD pair retreated to $1.3526 on Tuesday after Monday's three-month high at $1.3571.
This came as UK labour-market data revealed softer-than-expected private-sector wage growth, which slowed to 2.8% year-over-year - the weakest since late 2020.
The unemployment rate held steady at 4.9%, while employment rose by 83,000 in the second quarter, missing forecasts for a 129,000 gain.
Cross-rate performance showed sterling falling against the euro but rising against the yen, indicating a domestic repricing rather than a broad risk move.