CAD & GBP supported by hawkish repricing of BoC & BoE policy outlooks GBP: UK labour data adds to evidence of stronger UK cyclical momentum The pound has continued to strengthen at the start of the European trading session resulting in EUR/GBP falling back towards yesterday’s year-to-date low of 0.8393 while cable has risen above 1.3350. The pound’s recent upward momentum has been reinforced this morning by the release this morning of stronger UK labour market data which revealed that payrolled employment increased by 13k in September. The drop in payrolled employment from the previous month was also revised away from a -26k contraction to a marginal increase of +1k.
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