GBP weak, down 0.5% on broad labor market disappointment – Scotiabank

FXStreetOct 14, 2025 2:36 PM

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The Pound Sterling (GBP) is weak, down 0.5% against the US Dollar (USD) and a mid-performer among the G10 in an environment of risk aversion and broad-based USD strength, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.

Pound sips on softer jobs data and narrowing yield spreads

"Domestic employment data were weaker than expected with softer wage growth and a lower than expected headline jobs gain. Yield spreads have narrowed modestly from their recent local highs, eroding some of the GBP’s fundamental support. short-term rates markets are still only pricing about 10bpts of tightening by December."

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