The British pound traded around $1.339, near an eight-week low, mainly due to renewed strength in the US dollar. The dollar rose to a three-week high after former President Trump said he had no plans to fire Fed Chair Jerome Powell, despite criticizing the Fed for being too slow to cut interest rates. In the UK, investors are weighing recent jobs and inflation data for clues on monetary policy. The labour market continues to soften, with payroll employment falling again, though revised tax data suggests the decline is less severe than previously thought. Unemployment rose to 4.7%, while wage growth - though still historically strong - showed signs of slowing. Meanwhile, inflation surprised to the upside in June, coming in at 3.6% versus a 3.4% forecast. The mixed signals create uncertainty for the Bank of England. Slower wage growth supports potential rate cuts, but sticky inflation could delay them. Traders have slightly scaled back expectations but still price in two cuts in 2025.