London stocks were set to gain at the open on Wednesday following heavy losses in the previous session, as investors eyed the latest US inflation reading.

EUR/USD trimmed further into low the side on Tuesday, shedding another third of a percent.

GBP/USD lost its footing on Tuesday, shedding almost a full percent after UK labor figures came in mixed, but all Cable traders could focus on was a steeper-than-expected upswing in the UK Unemployment Rate.

GBP/USD Price Forecast: Dives below 200-day SMA and 1.2800 The Pound Sterling plummets more than 0.60% on Tuesday, after labor market data was mixed, with the Unemployment Rate rising sharply, as the economy added over 220K jobs to the economy, 150K less than in the previous reading.

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EUR/JPY has offered its recent gains from the previous session, falling to near 163.50 during the European trading hours on Tuesday.

London stocks fell in early trade on Tuesday as data revealed an uptick in unemployment and a cooling in wage growth, and as investors sifted through a raft of corporate releases.

Britain’s unemployment rate rose more than expected as wage growth fell to its lowest level in two years.

The Pound Sterling (GBP) weakens against its major peers on Tuesday after the employment data from the United Kingdom (UK) showed loosening labor market conditions in three months ending September.

The EUR/GBP cross gathers strength to around 0.8295 during the early European session on Tuesday.

London stocks were set to fall at the open on Tuesday following a weak session in Asia, as investors mulled the latest UK jobs data.

The rate of unemployment stood at 4.3% in the three months to September, up from 4% the previous quarter.

The United Kingdom’s (UK) ILO Unemployment Rate ticked up to 4.3% in the three months to September, following 4.0% in August, the data published by the Office for National Statistics (ONS) showed on Tuesday.

GBP/USD skidded back into familiar lows on Monday, squirting back below the 1.2900 handle as Cable traders brace for the latest round of UK wages and jobs data due early Tuesday.