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GBP/USD â British Pound Under Pressure as UK Employment Data Falters

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Oanda Forex Blog

The British pound has posted losses in the Tuesday session. In the North American session, GBP/USD is trading at 1.3495, down 0.44% on the day. On the release front, UK employment numbers disappointed. Wage growth dropped to 2.6% in March, down from 2.8% a month earlier. This missed the estimate of 2.7%. Unemployment claims jumped to 31.2 thousand, well above the forecast of 13.3 thousand. The unemployment rate remained at 4.2%, matching the estimate. In the US, retail sales dipped to 0.3%, shy of the estimate of 0.4%. Core retail sales edged up to 0.3% but missed the forecast of 0.5%. On Wednesday, the US will release Housing Starts and Building Permits.

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