Blog

UK unemployment rises

• Posted by currencies in Bank of England, Brexit, Currency, Dollar, Economy, EUR, GBP, Sterling, UK, Uncategorised
• February 21, 2018
• No Comments

So far this week the best performers have been Sterling and the US Dollar. Sterling gained yesterday after a rumour that the EU may be open to a deal after Brexit, whereas the Dollar gained from the recent lows we have seen.

Today is a busy day regarding economic data releases, we had the UK wage data, testimony from BoE MPC members, and the latest Fed minutes later this evening.

In terms of the UK employment data, the wage growth rose this morning. However, the unemployment rate was set to remain at 4.3%, its lowest level since the early 1970s, however, the data rose and come in at 4.4%.

The pound has dropped off slightly on the back of the release.