The GBP/USD pair experiences a setback, missing an upward momentum.

The British pound sterling, in conjunction with the US dollar, has retreated from its recent five-month high, resulting in the current GBP/USD exchange rate at 1.2677.

GBP encountered pressure as global investors shifted away from risks on Tuesday, with the US dollar gaining demand as a safe-haven asset.

Today marks an active day in terms of macroeconomic statistics. The UK is set to release unemployment figures for November, expected to rise to 4.3% from the previous 4.2%. Initial jobless claims in December might have increased by 18.1 thousand, compared to the previous reading of 16.0 thousand.

Job openings statistics are expected to remain at the 50 thousand level, while average wages in November might have increased by 6.8%, following a growth of 7.2% in October.

All these reports play a crucial role in determining inflation levels and understanding the potential future steps of the Bank of England concerning the interest rate.

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