GBP traded mixed against other major currencies in the European session on Monday as investors braced for tomorrow’s release of the UK statistics on employment and wage growth.
The pound fell versus USD, CAD, and AUD but rose versus EUR, CHF, and JPY.
Economists predict Britain’s economy shed 50,000 jobs in the three months to September, while the country’s unemployment rate increased to 4.1% from 4.0% in the previous three-month period, and the regular pay growth eased to 4.7% YoY from 4.9% YoY.
On Thursday, investors will pay attention to the comments of the BoE governor Andrew Bailey, who is scheduled to speak at the Annual Financial and Professional Services Dinner in Mansion House. Markets are interested in whether the British central bank’s chief will repeat his notion that it could reduce its interest rates at a quicker pace if inflation moves in a favourable direction.