The pound has strengthened slightly against the euro and the dollar following strong employment data.
The UK’s unemployment rate fell to 3.8% in February, the lowest level since 1974. Average weekly earnings also grew 5.4% in February; however, this failed to keep up with the 6.2% rise in consumer prices.
Yesterday, GDP figures were released which showed a rise of just 0.1% in February. Economists have since issued a warning that the UK economy is at risk of stalling, or even contracting, in the coming months
All eyes will now be on the UK’s inflation rate tomorrow.
