The latest employment data has supported an attempted recovery in the pound this morning as it looks to recoup recent losses which saw the currency yesterday fall to its lowest level against the dollar in 20 months.
In particular an unexpected rise in wages is seen as positive for sterling, with the 3.3% increase on a 3-month annualised basis coming in at its highest level in over 8 years. Having said that, this data pales into insignificance compared to the latest Brexit developments as far as the markets are concerned and on this front the ongoing uncertainty leaves the pound vulnerable to further declines.