January 17, 2023 – Written by John Cameron
STORY LINK Pound US Dollar Exchange Rate News: GBP/USD Climbed Despite Underwhelming UK Jobs Data
Pound (GBP) Undermined by Mixed Employment Data
The Pound (GBP) traded erratically against the US Dollar on Tuesday after a flurry of employment data failed to impress investors. Despite unemployment remaining at 3.7%, close to 50-year lows, underlying data caused reason for concern surrounding the labour market.
The number of people claiming unemployment benefits surged by 19.7k, far above last month’s figure of 16.1k. The surge in claimants is the biggest jump since February 2021, highlighting the…
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