- The Pound Sterling exhibits a mixed performance against its major peers on Monday. The British currency is expected to trade broadly sideways as investors focus on the United Kingdom (UK) Employment data for the quarter ending July, which will be published on Tuesday.
- The UK labor market data could influence market speculation for the Bank of England (BoE) interest-rate path for the remainder of the year. According to the estimates, the Unemployment Rate is seen ticking lower to 4.1% from the former reading of 4.2%. Average Earnings Including bonuses are estimated to have softened to 4.1% from the prior release of 4.5%. Soft wage growth would increase expectations of more interest rate cuts by the BoE as it would imply a decline in inflation in the services sector.
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