Sterling takes top on stellar jobs data.......>

FOREX: Sterling takes top on stellar jobs data

-GBP was the best performer among G10 Tuesday, with GBP/USD accelerating gains

on the break above $1.2950 as bulls set their sights on last week's highs of

$1.3001. The impetus for the move followed better-than-expected jobs and wages

data, showing real wage growth accelerating to its highest levels since 2016,

with the unemployment rate dropping to equal multi-decade lows. EUR/GBP fell in

sympathy, hitting the lowest levels since mid-November.

-Markets eyed uptrend support for EUR/USD at $1.1341 which the rate briefly

showed below before recovering. This may heighten focus on the pair ahead of the

close, with the ECB meeting later this week likely proving decisive.

-Commodity-tied FX continues to suffer as reports suggest fraught tensions

between the US and China ahead of the next round of trade talks, keeping oil

markets contained and, as such, AUD, CAD and NOK under pressure.

-The BoJ rate decision takes focus Wednesday, with Japanese trade balance, New

Zealand CPI, Canadian retail sales and Eurozone consumer confidence also due.

Fed's blackout period keeps speaker calendar quiet.