Sterling outperforms on strong employment data - FXStreet

Valeria Bednarik, chief analyst at FXStreet explained that sterling outperformed its peers, advancing against most of its major rivals on the back of strong employment data.

Key Quotes:

"The GBP/USD pair rallied up to 1.3197 following news that the UK added 176,000 new jobs between March and May, well above previous month's reading of 55K.

The unemployment rate fell to 4.9%, with the only disappointment coming from wages, up by 2.2% excluding bonus, below the 2.3% previous.

Although data was quite strong, the numbers are of a pre-Brexit scenario, which means data will be hardly used by the BOE to decide during their next meeting.

The UK will release its June Retail Sales this Thursday, expected to have plummeted ahead of the Brexit vote."