The Pound Sterling remains steady against its major peers after UK labor market data showed wage growth accelerated. Average Earnings Excluding Bonus rose at a robust pace of 5.6%. Meanwhile, labor growth remained significantly weak, with a fresh addition of 35K workers against the former reading of 173K. Traders see the Fed keeping interest rates steady in the next two policy meetings.
The Pound Sterling remains steady against its major peers on Tuesday after the UK labor market data showed that wage growth accelerated. UK labor demand remained weak as employers dissented from the government’s decision to direct them to higher NI contributions. Traders see the Fed keeping interest rates steady in the next two policy meetings.
Technical Analysis: Pound Sterling aims to recapture 20-day EMA The Pound Sterling declines to near 1.2275 against the US Dollar on Tuesday after posting a fresh 10-day high near 1.2345 earlier in the day. TheGBP/USD pairrebounded but failed to reclaim the 20-day Exponential Moving Average , which trades around 1.2360. The 14-day Relative Strength Index rebounds above 40.00. The bearish momentum wouldendif the RSI manages to sustain above that level.
POUND STERLING UK LABOR MARKET WAGE GROWTH INTEREST RATES FEDERAL RESERVE
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