GBP experiences a decline. Overview for 16.01.2024

16 января 2024 - Fx4News

The British pound sterling, paired with the US dollar, has retreated from a five-month high. The current GBPUSD exchange rate stands at 1.2677.

GBP faced pressure as investors globally shifted away from risks on Tuesday. The US dollar is in demand as a safe-haven asset.

Today is an active day from the point of macroeconomic statistics. The UK will release unemployment figures for November, expected to have risen to 4.3% from the previous 4.2%. The initial jobless claims rate in December might have increased by 18.1 thousand compared to the previous reading of 16.0 thousand.

The job openings statistics might have remained at the 50 thousand level, while average wages in November might have increased by 6.8%, following a growth of 7.2% in October.

All these reports are crucial for determining inflation levels and understanding the future steps of the Bank of England regarding the interest rate.