GBP/USD: UK Average Earnings Index

The British Pound appreciated against the US Dollar, following the UK Average Earnings Index data release on Tuesday at 08:30 GMT. The GBP/USD exchange currency rate gained 21 pips or 0.17% right after the release. The British Pound continued trading at the 1.2700 level against the Greenback.

Office for National Statistics released the UK Average Earnings Index data, which came out better-than-expected of 3.1% compared with forecast 2.9%.

According the official release: "Between February to April 2018 and February to April 2019 for employees in Great Britain regular pay was estimated to have increased by 3.4% in nominal terms and by 1.5% in real terms. The total pay was estimated to have increased by 3.1% in nominal terms and by 1.2% in real terms."