Pound Slides On Downbeat Jobs Data
12 Mars 2024 - 7:26AM
RTTF2
The British pound weakened against other major currencies in the
European session on Tuesday, after data showed Britain's
unemployment rate rose for the first time since July and wage
growth eased, adding to evidence of a cooling labor market.
Data published by the Office for National Statistics showed that
the ILO jobless rate rose to 3.9 percent in three months to January
from 3.8 percent in the prior period. The rate was seen unchanged
at 3.8 percent.
At the same time, the employment rate came in at 75.0
percent.
Average earnings excluding bonus gained 6.1 percent in three
months to January. The rate was forecast to climb 6.2 percent, the
same rate as seen in the preceding period.
Including bonus, earnings increased 5.6 percent, slightly slower
than economists' forecast of 5.7 percent.
The estimated number of vacancies declined 43,000 sequentially
to 908,000 in three months to February. Vacancies decreased for the
20th consecutive period.
Data showed that claimant count increased by 16,800 from the
previous month to 1.585 million.
In January, there were 203,000 working days lost due to labor
disputes.
In the Asian session today, the pound held steady against its
most major rivals such as the euro, the U.S. dollar and the Swiss
franc. Meanwhile, the pound rose against the yen. If the pound
extends its downtrend, it is likely to find support around 1.10
against the franc, 1.26 against the greenback and 0.86 against the
euro.
In the European trading now, the pound fell to an 8-day low of
1.1202 against the Swiss franc, a 5-day low of 1.2776 against the
U.S. dollar and a 4-day low of 0.8549 against the euro, from early
highs of 1.1250, 1.2824 and 08526, respectively.
Moving away from an early 4-day high of 189.20 against the yen,
the pound slipped to 188.24. On the downside, 185.00 is seen as the
next support level for the pound. Looking ahead, U.S. CPI data for
February, U.S. Redbook report and U.S. Federal Government monthly
budget balance for February are due to be released in the New York
session.
Sterling vs Yen (FX:GBPJPY)
Graphique Historique de la Devise
De Avr 2024 à Mai 2024
Sterling vs Yen (FX:GBPJPY)
Graphique Historique de la Devise
De Mai 2023 à Mai 2024