Home›Forex›Major Pairs›GBP/USD steadies near 1.3450 after UK jobs report

GBP/USD steadies near 1.3450 after UK jobs report

UK ILO unemployment held at 4.9% in the three months to May, below expectations, before traders focused on Wednesday's UK CPI.

Reported · Written up by our desk · Major Pairs

The British pound held positive ground against the US dollar near 1.3450 in early European trading on Tuesday, supported by the latest UK employment data, according to FXStreet.

The Office for National Statistics reported that the UK ILO Unemployment Rate was steady at 4.9% in the three months to May, below the market consensus of 5.0%. Separately, the number of people claiming unemployment benefits rose by 6.7K in June versus a revised prior increase of 1.3K, which was better than the expected 28.3K gain, while Employment Change came in at 147K in May compared with 100K expected in April.

FXStreet said attention is shifting to the UK CPI release due on Wednesday, with headline CPI expected to rise 2.7% year over year in June and core CPI projected to increase 2.5%.

The report also noted that US-Iran tensions are in focus, with rising risk potentially affecting safe-haven demand for the dollar and weighing on the near-term outlook for GBP/USD.

Latest closeGBP/USD 1.348 ▼0.5%

More like this

Sources