The currency pair GBP/USD trims revenues after mixed British data

The currency pair GBP/USD trims revenues after mixed British data

On Wednesday, the British pound trimmed profits versus the American dollar, after the publication of mixed British data, while market sentiment on the greenback was still fragile ahead of the Fed’s highly-anticipated interest rate verdict.

The currency pair GBP/USD rebounded from 1.2797 during European morning trade, which is the pair’s highest outcome since June 9.

Cable was about to obtain support at 1.2639, which is Tuesday’s minimum and resistance at 1.2853, which is the peak of May 29.

According to the UK Office for National Statistics, unemployment rate stood still at 4.6% in April, which is in line with hopes and at its lowest value since 1975.

In May, the claimant count soared by 7,300 in May, compared to hopes for a revenue of 20,300 people.

Besides this, the report also disclosed that the average earnings index inched up by 2.1% in the three months, thus missing predictions for a 2.4% soar.


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Bank of Canada Meeting

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