The Pound lost its balance. Overview for 14.10.2020

In the middle of another trading week, GBPUSD remains under pressure. 

The British Pound is looking weak against the USD on Wednesday afternoon. The current quote for the instrument t is 1.2923.

It’s all about the statistics that were published yesterday. The Unemployment Rate went from being 4.1% in July to 4.5% in August, although it was expected to expand only to 4.3%. This is exactly what made the Pound nervous. 

The Average Earnings Index showed no changes after losing 1.0% 3m/y in the previous period. 

The Claimant Count Change in the United Kingdom in September was 28.1K after being 39.5K in August and against the expected reading of 78.8. 

The British regulator hasn’t decided on whether it is going to cut its rates below zero or not. It was a reply from the Governor of the Bank of England Andrew Bailey to banks, which asked him about the prospects of its monetary policy. The BoE is once again saying that only after exploring all efficiency issues it may understand whether it should opк for such a decision.