The EU's latest bad boy, Slovenian Prime Minister Janez Janša, finally addressed the press corps in Brussels on Wednesday, if only for a dozen minutes and via zoom, at a joint press conference with European Parliament President David Sassoli.
May 18, 2021 18:06 GMTFXStreet News
GBP/USD remains on track to close third straight day higher.
US Dollar Index recovers modestly, stays below 90.00.
Upbeat UK labour market report helped GBP gather strength.
The GBP/USD pair closed the first day of the week in the positive territory and preserved its bullish momentum on Tuesday. After touching its highest level since late February at 1.4220, however, the pair erased a portion of its daily gains and was last seen trading at 1.4188, where it was up 0.38% on a daily basis.
GBP capitalizes on strong labour market data
Earlier in the day, the monthly data published by the UK’s Office for National Statistics (ONS) showed that the Unemployment Rate declined to 4.8% in March from 4.9% in February. Additionally, the Claimant Count Change arrived at -15.1K and came in much better than the market expectation for an increase of 25.6K. The upbeat UK jobs report helped the GBP outperform its rivals during the European trading hours.