Sterling firms above 1.13 versus dollar
2017-08-09 17:16:31 GMT (Economies.com)
Sterling firms above 1.13 versus dollar

Sterling gave up ground against the dollar in American trade, following earlier data from the US, the world's largest economy, and amid a lack thereof from Britain.

 

As of 04:40 GMT, GBP/USD rose 0.06% to 1.3001 from the opening of 1.2992, with an intraday high at 1.3028, and a low at 1.2969.

 

Earlier reports indicated that Britain put off trade negotiations with the Gulf Cooperation Council countries amid internal political tensions with Qatar, as some analysts expect Qatar to be excluded from the negotiating table after the internal Gulf crisis carried on for more than two months, with Britain aiming to ink up quick trade deals to stem the losses made after exiting the European Union. 

 

Otherwise from the US, the preliminary reading for labor unit costs showed a 0.6% rise in the second quarter, slowing down sharply from 2.2% in the first quarter, and missing expectations of 1.1%, while non-farm productivity rose 0.9% in the previous quarter, compared to no-change in the first one, and passing expectations of 0.7%. 

 

Last Friday, the payrolls report showed the economy created 209 thousand new jobs, while the unemployment rate declined to 4.3%, as average hourly earnings accelerated in line with expectations. 

 
 
 
  Symbol Last Change Chg.%
1.1776
0.0010
0.0884%
1.3364
-0.0018
0.1338%
15.903
0.051
0.322%
56.885
-0.440
0.768%
62.65
-0.70
1.10%
1248.225
-0.125
0.010%
 
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