"The latest labour market figures provided some signs that the tightening in the labour market may be leading to a recovery in wage growth at long last."
Pound Sterling faces up to the first real economic data release of the week on Wednesday, July 12 in the form of employment and wage data from the ONS, due for release at 09:30 B.S.T.
The British Pound was buoyed by the release of stronger-than-forecast inflation data on June 13, next up on the docket are employment and wage earnings data.
The focus today for Pound Sterling will remain on UK economic data.
Of importance for Sterling will be the release of average earnings data (with bonus) which is expected to have shown growth of 2.2%.
Pound Sterling will be hoping for calmer waters in mid-week trade following the wild ride experienced so far this week.
The consequences of Brexit have still not fully fed through into the economy, say UBS, but after Article 50 is triggered at the start of 2017 the full effects are expected to depress growth.
UK employment data for August has come in largely in line with analyst expectations but with a slightly better-than-expected bias.
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.
Pound Sterling lost ground against both the Euro and Dollar in the week 5-9 September, snapping a run of three weeks of positive performances against both currencies.
A strong set of UK employment and earnings data were released on Wednesday the 17th August.
Pound Sterling looks to be determined to stay above its 2016 lows, but the resilience will be tested over coming days when inflation and employment data are released.
77% surge in Britons looking for work in the US following the referendum result, according to world’s largest job site, Indeed.
The UK economy is not in bad shape heading into its potential rift with the European Union.
Recent pound sterling gains look more sustainable in the wage of news wages and employment data have beaten analyst expectations in mid-week.
Pound sterling enjoyed a strong recovery through April but gains have since stalled, and under-par data releases have certainly played their part.
With the pound continuing to enjoy a decent run against the US dollar and euro all eyes now turn to today’s release of UK employment and earnings data.
The pound sterling has lost ground against the dollar thanks to Brexit fears and a heavy sell-off in the GBP-JPY cross.
