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The British pound gives up a 3-month high ahead of UK jobs data
The British pound fell at the start of European trading on Tuesday against a basket of global currencies, giving up its highest level in 3 months versus the US dollar. It is on track to record its first loss in the last 3 sessions, driven by corrective trading activity and profit-taking, alongside attempts for the US currency to recover from low levels.

US dollar buying as a safe haven is active due to concerns about a possible renewed round of military confrontations between the United States and Iran, especially after the end of the 60-day temporary ceasefire agreement brokered by Pakistan.

Later today, important data on the UK labor market will be released, providing strong indications about the likelihood of the Bank of England raising British interest rates next September.

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