The sterling pound falls in the midst of growing concerns about the United Kingdom labor market
The sterling pound (GBP) is negotiated down against its peersexcept refuge currencies, Friday due to growing concerns about the United Kingdom labor market.
The Office of National Statistics (ONS) reported on Thursday that the ILO unemployment rate accelerated to 4.7% in the three months that ended in May, the highest level seen from the quarter that ended in July 2021. The unemployment rate has increased since April, when the increase in employers’ contributions to the social security schemes announced by the Treasury Chancellor, Rachel, Rachel entered into force. Reeves, in the autumn statement.Read more…
GBP/USD forecast: sellers doubt as the market feeling improves
After the volatile action on Thursday, The GBP/USD wins traction and advances to 1,3450 in the European session on Friday.
Although the pound sterling managed to maintain its position after the employment report, the positive US data supported the US dollar and made it difficult to acquire the bullish impulse on Thursday.Read more…
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
