British pound hits day’s peaks on UK jobs data

British pound hits day’s peaks on UK jobs data

On Wednesday, the British pound touched the day’s peaks versus the broadly weaker greenback, following data demonstrating that Great Britain’s unemployment rate reached a 42-year minimum in the three months to March, though wages went down.

The currency pair GBP/USD tacked on 0.16%, being worth 1.2938.

The unemployment rate in Great Britain suddenly slumped to 4.6% in the period from January to March, as the Office for National Statistics informed. It appeared to be its lowest outcome in nearly 42 years. As for market analysts, they had expected it to stay intact at 4.7%.

The report also disclosed that wage surge dipped behind inflation for the first time in two-and-a-half years. It definitely underlined worries over a financial squeeze on British consumers.

Excluding bonuses, UK earnings inched up by 2.1% year-on-year, which is the slowest soar since July 2016 and below predictions for a 2.2% leap.

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