The pound fell slightly on Tuesday after data showed a slowdown in UK wage growth for the three months to August, suggesting the Bank of England may continue its gradual interest rate cut path.
The pound fell 0.35% against the dollar to $1.3293, reversing modest gains made earlier in the day before the wage data.
The pound also weakened against the euro, with the euro rising 0.36% to 87.0900 pence. This puts the euro on track for its biggest daily gain against the pound in nearly a month.
The slowdown in average UK wage growth suggests the central bank may have room to continue cutting interest rates, albeit at a measured pace
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