GBP/JPY briefly tested the 190.00 major price handle on Tuesday as the Pound Sterling (GBP) rose across the broader FX market, bolstered by a better-than-expected Unemployment Rate print and easing wage growth figures helping to quell inflation fears.
UK unemployment rises to 4.3%, a near two-year high while earnings continue to accelerate. The Bank of England (BoE) seems to be in a tough spot heading into the September meeting.
UK unemployment rises to levels last seen in late 2021. Average earnings touted as key by the BOE smashed estimates and is likely to add pressure on the Central Bank to keep its foot on the rate hike pedal.
The UK employment data came in mixed this morning as unemployment ticked higher but average earnings remained steady. GBPUSD continued its slide with a deeper retracement starting to look more likely.