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UK Q2 labor costs rose at a fastest rate since 2012

FXStreet (Mumbai) - The UK Office for National Statistics (ONS) data showed the labor costs in the second quarter rose at a fastest rate since 2012.

Unit labor costs printed at 0.5% compared to 0.3% in Q1. Year-on-year the number came-in at 2.2%; which is the fastest rate since Q4 2012. Output per hour rose to a highest on record, printing at 0.9% q/q/ and 1.3% y/y compared to 0.5% in Q1.

The data is slightly positive as it highlights the rise in the wages as well as productivity.

EUR/USD recovers to 1.1165 as EU stocks rally fizzles

The EUR/USD pair found fresh bids just below the 100-DMA then located at 1.1140 levels and attempts a weak recovery as the European stocks take a breather in their rally, with markets digesting a set of dismal PMIs from the Euro zone.
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GBP/USD upside appears capped around 1.5200 – OCBC

Emmanuel Ng, FX Strategist at OCBC Bank, believes the pair’s upside could be limited by the 1.5200 handle...
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