Money News Overview Monday 19th August: A solid start to the week for GBP following last weeks labour data

The pound benefited from positive data at the back end of last week and has since edged higher against both the euro and the US Dollar.

A quiet start to the week with no data due today across the board.

The pound benefited from positive data at the back end of last week and has since edged higher against both the euro and the US Dollar.

Since Friday, the pound has gained 2 percent against the US Dollar.

Its recovery has been helped by economic data highlighting a resilient labour market, more moderate than expected inflation pressures for July and a continued robust expansion of the economy for the last quarter.

The rest of the week is quiet until Thursday when we have the EU and UK PMI data followed by the US employment figures.

Bank of England governor Andrew Bailey will be speaking at the Jackson Hole Symposium on Friday; therefore, markets will likely look for any signals of any future interest rate cuts.

Despite the recent sell-off, GBP is the best performing currency in the G10 this year. 

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