Sterling jumps on strong UK jobs data

LONDON: Sterling hit the day's high on Tuesday after UK employment data beat expectations suggesting the labour market remained robust despite an economic slowdown ahead of Brexit.

The pound rose 0.3 percent to $1.2921 after data showed British workers' pay growth hit a new 10-year high and employment grew by much more than expected in the three months to the end of November.

Against the euro, sterling also jumped 0.3 percent to the day's high of 87.96 pence.