Sterling abandons 3-month peak ahead of UK labor market data

•The US dollar is trying to recover from low levels. •International oil prices rise for the third day in a row. •The end of the temporary peace agreement between the United States and Iran. •Markets are waiting for new updates on the path of British interest rates.

The pound sterling fell with the opening of the European market on Tuesday against a basket of global currencies, giving up the highest level in three months against the US dollar, on its way towards...

It incurred its first loss during the last three days, due to the activity of correction operations and profit-taking, coinciding with attempts to recover the US currency levels from low levels.

The US dollar The dollar index rose on Tuesday by about 0.1%, as part of attempts to recover from its lowest levels in 11 weeks, on its way towards achieving the first gain in the last four sessions, reflecting the recovery in the levels of the US currency against a basket of global currencies.

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British Labor in order to re-price the above possibilities. Later today, investors are awaiting important data on the UK labor market, with the release of unemployment claims for July, the unemployment rate and average wages for June.

Expectations about the performance of the British pound: We expect here on the “FX News Today” website: If the British labor market data is less aggressive than expected in the markets, the chances of raising interest rates will decline.

Britain next September, which will lead to more negative pressure on the levels of the British pound.

The main indices on Wall Street ended trading lower on Monday, with renewed tensions between Washington and Tehran and the subsequent rise in oil prices, as well as the anticipation of quarterly results from major retail companies for indications about consumer spending in the United States.