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- UK wage growth data comes in below expectations, casting doubts on further BoE rate hikes.
- US Retail Sales for September surpass expectations, with August data revised upwards.
- Speculations rise on a potential Fed rate hike in December; CME FedWatch Tool indicates a 42.90% probability.
The Pound Sterling (GBP) remains on the defensive vs. the US Dollar (USD) after data from the United Kingdom showed wages are decelerating. That and a solid Retail Sales report in the United States (US) weighed on Sterling. Therefore, the GBP/USD dipped below 1.2200, a loss of 0.25%.
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