Sterling declines for second day ahead of UK labor data

Economies.com
2020-02-18 08:39AM UTC

Sterling retreated on Tuesday for another session amid high demand on the dollar and ahead of UK labor data today. 

 

GBP/USD shed 0.3% to 1.2970, after losing 0.3% yesterday, the first loss in six days on profit-taking. 

 

Sterling rose 1.3% last week against dollar, the third weekly profit in a row after upbeat UK growth data. 

 

The dollar index rose 0.1%, marking four-month highs at 99.24. 

 

Investors await important UK data, with jobless claims expected up 20.2 thousand in January. 

 

The UK unemployment rate is estimated at 3.8%, while average earnings for the three months ending December are estimated up 3.1%. 

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