The Pound Sterling (GBP) has experienced a significant decline against its major counterparts on Tuesday, as the latest UK labour market data for the three months ending in September reveals worsening job conditions. The GBP/USD exchange rate fell sharply, reflecting growing concerns about the UK economy's resilience. With the labour market showing signs of deterioration, traders are cautious, impacting overall trading sentiment.
Market analysts note that the GBP has weakened against the euro as well, with the EUR/GBP pair gaining traction amid the bleak employment outlook. As the UK grapples with these challenges, the exchange rate dynamics suggest traders are shifting focus towards more stable currencies like the USD and EUR. This shift could lead to further volatility in the GBP, especially if subsequent economic indicators continue to signal weakness, raising questions about the Bank of England's monetary policy stance in the near future.
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Data Source: Yongxianli Analysis Team Updated: 2025-11-11 13:30
Disclaimer: This article is for reference only and does not constitute investment advice. Forex trading involves risks; please make decisions carefully.