UK Earnings Data

The Pound advanced further on rivals Tuesday after official data showed wage pressures building in the UK's tight labour market while traders also continued to reward signs of progress in the Brexit negotiations with a steady bid for Sterling.

The outlook for Pound Sterling brightened Monday when an IHS Markit survey showed a rise in UK wage pressures during the current month, which is something that is sure to grab the attention of Bank of England rate setters later this week.

The squeeze on UK wage packets has eased. Markets will now focus on Thursday's Bank of England meeting and European Council summit.

The highlight for Sterling in the mid-week session will be the release of employment data for August from the ONS at 09:30 B.S.T.

A strong set of UK employment and earnings data were released on Wednesday the 17th August.

The UK economy is not in bad shape heading into its potential rift with the European Union.