UK Unemployment Rate falls to 4.6% as expected, GBP/USD pressured under 1.3850

Economists expected the Unemployment Rate to extend its decline and drop to 4.6% in July from 4.7% in June. Wage growth was projected to ease from 8.8% to 8.2% when including bonuses and from 7.4% to 6.8% when excluding them in July.

The Claimant Count Change was forecast to tumble by 71,7000 in August after a slide of 7,800 in July. 

GBP/USD traded around 1.3850 ahead of the publication, consolidating gains it made on Monday. The dollar has been on the back foot ahead of Tuesday's US Consumer Price Index (CPI) release.