The pound is still fairly well supported against the euro and the dollar, following positive jobs data that was released for the UK this morning.
According to the Office of National Statistics, UK’s unemployment rate has dipped to 4.7% between April and June from 4.8% previously. The number of people in employment also rose but has remained below pre-pandemic levels.
Chancellor, Rishi Sunak, said this morning that “the data is promising. There are now more employees on payrolls than at any point since March 2020 and the number of people on furlough is the lowest since the scheme launched.”
The markets will now look to inflation rate data tomorrow, with the annual figure expected to come in at 2.3%.
