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GBP/USD slips slightly as UK wages drop back more than anticipated

The latest UK monthly and quarterly jobs reports have just been released. The data has revealed a drop in the payroll count and that was a surprise. Payrolls fell by 13k and the level of average wages also only rose by 7.2%, from a revised prior rate of 7.9%. The pound has understandably reacted negatively to the news, falling from above 1.2580 in the GBP/USD, to below 1.2570. That said, it has not been a massive reaction by any means. However, this data does underpin the outlook for now change in monetary policy from the BOE later this week. 
 

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