Sterling extended its rebound against the US dollar on Tuesday after UK labour market data came in stronger than expected. GBP\/USD rose 0.3% on the session, pushing above 1.3350 and trading more than 200 pips above last week\u2019s low. The move kept the pair in a near-term upward bias, even as the wider employment release pointed to cautions elsewhere.<\/p>\n\n
Figures from the Office for National Statistics showed the ILO Unemployment Rate falling to 4.7% in the three months to August, an unexpected decline and the lowest reading in more than a year. <\/p>\n\n
The unemployment data provided near-term support for the pound, while the rest of the report was described as containing warnings, leaving the broader policy and growth implications open.<\/p>\n\n\n\n