The British Pound has had another choppy overnight session though the absolute magnitude of its moves has been much lower than in recent days. GBP/USD recovered off yesterday’s London low of 1.3068 to finish in North America around 1.3116 and has been as high as 1.3191 earlier today before selling off 60 pips to 1.3137. It opens in North America at 1.3170. GBP/CAD Tuesday rallied from its 3-week low of 1.6598 on Monday to end yesterday around 1.6760. This morning, the GBP/CAD rate has traded between 1.6713. and 1.6793 and begins the North American session at 1.6767. Economic data in the UK today were on unemployment and average earnings. The jobless rate was steady at 4.3% though the number of people in employment across the UK fell for the first time in nearly a year. There were 32.06 million people in work in July-September, which is a 14,000 drop on the previous quarter. On wages, meantime, both measures (including and excluding bonus payments) were pretty much in line with consensus expectations at 2.2% y/y. A year ago, the Bank of England forecast earnings would grow 3.0% in 2017 and continues to believe there’ll be a strong pick up over the next 18-24 months. Unless and until they do, then with CPI of 3.0%, the squeeze on real incomes and consumer spending in the UK looks set to continue for some time to come. The GBP will find it difficult to rally unless there’s some unexpected good news on the political or Brexit fronts.