The GBP/USD pair jumped after the US published strong jobs numbers on Tuesday.
The data revealed that the country’s wage growth continued in the three months to May. Annual wages jumped by 6.9%, up from the previous 6.7%. Regular pay jumped by 7.3% in the same period while the economy added over 102k jobs.
Further evidence of this view is the fact that the two-year mortgage rate jumped to the highest point since 2008. Gilt yields have also risen to the highest point since the mini-budget crisis. A weaker-than-expected figure will be positive for the GBP/USD pair because of its impact on the Fed’s decision.
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