Sterling steadies as investors digest crucial labor data

Sterling moved little in European trade against the greenback as investors digest a mixed batch of important labor data that gives an overall look into third-quarter performance for the UK economy. 

GBP/USD barely moved up to 1.3155 from 1.3150, with a session-high at 1.3175, and a low at 1.3139. 

Sterling was little changed yesterday after opening the session with a price gap to the red as Brexit negotiations were suspended. 

The stubborn issue of physical borders between the UK and Ireland caused Brexit talks to halt before the launch of the EU summit on the issue next Thursday, considered the last chance to wrangle out a deal. 

Sterling rose 0.35% last week against the dollar, the second weekly profit in a row as the dollar gave up ground against most counterparts.

UK Labor Data 

The UK unemployment rate for the three months ending August steadied at 4.0%, already the lowest since 1975 and matching analysts' expectations. 

Jobless claims rose another 18.5 thousand in September, sharply above expectations of a 4.5K increase, and compared to the 8.7 increase in the previous reading. 

Average wages for the three months ending August rose 2.7%, beating estimates of 2.6%, and accelerating from July's also 2.6%.