The Pound Sterling found support on Tuesday, paring earlier losses despite softer UK employment data. The GBP/USD pair traded largely flat as markets digested figures showing rising unemployment, which bolstered expectations for imminent monetary easing from the Bank of England. The exchange rate hovered near key technical levels, demonstrating a muted reaction to the news as traders assessed the implications for future interest rate policy.
The disappointing labor market report increased speculation that the BoE could implement rate cuts as soon as its December meeting. This prospect of looser monetary policy initially weighed on the currency, but some recovery emerged as the US dollar also faced broad-based weakness. Trading remained cautious with investors awaiting further cues on the timing of potential rate reductions from both the Bank of England and the Federal Reserve.
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Data Source: GrowingPool Analysis Team Updated: 2025-11-11 15:41
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