The Pound is rising higher. Overview for 14.09.2021

The British Pound is rising on Tuesday afternoon after the United Kingdom reported on the employment. 

The Pound is growing against the USD after the statistics release. The current quote for the instrument is 1.3860.

The Unemployment Rate in the United Kingdom dropped to 4.6% in July, the same as expected, after being 4.7% in June.

The Average Earnings Index added 8.3% 3m/y after expanding by 8.8% 3m/y earlier and against the expected reading of 8.2% 3m/y. 

The Claimant Count Change was -58.6K in August after being -7.8K in July and against the expected reading of -71.1K.

Market players were inspired by the statistics: the labour market is surely improving, although not as fast as expected. For the United Kingdom, which is still fighting the pandemic consequences and trying to boost the vaccination campaign to create a collective immunity, these are really good numbers. 

The fact that the “greenback” is currently getting a little bit weaker also supports the Pound. 

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Source: RoboForex


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