What the Pound's Jobs Rally Means for Bank of England Hikes

GBP/USD and Bank of England hike bets are rising after UK jobs data showed unemployment falling to 4.7% and pay growth beating forecasts. Fiona Cincotta, StoneX Senior Market Analyst, explains how the UK labor market, wage growth and inflation data are shaping sterling against the U.S. dollar. Markets price around a 93% probability of a Bank of England rate hike in November, making UK inflation data the next test for sterling. The U.S. dollar, meanwhile, is tracking U.S. Treasury yields lower as safe haven flows rotate out of tech stocks. Discover Actionable Insights with the latest Market Outlook Reports: https://intel.stonex.com/offer?language=en&campaignId=A908C315-DC62-4F35-AC16-870BB71E84D1&utm_source=youtube&utm_medium=social&utm_campaign=sxtv_guest_fiona_cincotta&utm_content=share 00:00 - Pound Rallies on UK Jobs Beat 00:26 - UK Unemployment Falls to 4.7% 02:05 - Bank of England Hike Priced In 02:47 - UK Inflation Decides Sterling 03:18 - U.S. Yields Drag Dollar Lower 04:39 - GBP/USD Breakout Meets a Wall Like and subscribe for more financial market insights. #StoneX #FionaCincotta #GBPUSD #BankOfEngland #Forex --------- Like this video? Subscribe and turn on notifications so you don't miss any videos from StoneX: https://www.youtube.com/@stonex_official Visit https://www.stonex.com/en/insights/thought-leadership/?utm_source=youtube&utm_medium=social for insights, perspectives and thought leadership from StoneX's global network of experts. Visit our website: https://www.stonex.com?utm_source=youtube&utm_medium=social