Pound turns negative after UK jobs data

Markets 9/13/2017, 11:10 AM
Pound turns negative after UK jobs data

The British pound reversed its earlier gains and started recording losses on Wednesday after wage growth data for the United Kingdom came in lower than expected.

Average weekly earnings grew 2.1% year on year in the three months to July, well below the 2.3% economists had forecast. Still, the rate of unemployment stood at 4.3% over the same period, while a year earlier the figure was at 4.9%, according to the Office for National Statistics.

Sterling declined 0.12% against the United States dollar to sell for 1.32673 at 11:07 am CET and eased 0.2% compared to the euro to go for 1.1078. The pound was 0.16% lower versus the Swiss franc and down by 0.16% relative to the Japanese yen.

TeleTrader Newsroom / IB

Share:

GBP/USD-0.65%

1.3496
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EUR/GBP+0.70%

0.8853
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GBP/CHF-0.45%

1.31225
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GBP/JPY-1.05%

151.1720
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