The pound's increase of 0.17% against the dollar demonstrates resilience despite the slowest average earnings growth since November 2020 and the highest job addition in three years.
Though average earnings growth slowed to 4.0%, job creation was robust, adding 265,000 jobs, indicating a complex economic response that might not fast-track interest rate cuts.
The recent labor data suggests a widening yield gap between UK gilts and US Treasuries, which could strengthen the pound further as gilts show better performance.
The upcoming GDP figures and CPI/PPI data will significantly impact the market, especially ahead of the Federal Reserve and Bank of England meetings next week.
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