UK inflation data underpins sterling, sell EUR/GBP on rallies

Tuesday’s labour market data was mixed with unemployment increasing to 3.9% from 3.8% while there was a larger-than-expected increase in employment to fresh record highs. Average earnings data beat market expectations with a headline increase of 3.7% in the year to July while the core rate strengthened to an 11-year high of 3.9% from 3.6%. […]