UK Unemployment Rate Falls To 6.8%

The number of people out of work in the UK fell by 133,000 to a fresh 5 year low of 2.2 million in the three months to March.

The unemployment rate now stands at 6.8%, with the number of people in employment rising due to the larger numbers of self employment in the UK.

The reason why this hasn't provided a massive surge in exchange rates today is that the growth in wages is lower than expected, however, pay is still growing faster than inflation.

We also have the GBP inflation report coming out in the next hour, which will give us a better indication of how the economy is doing in the UK.

Tomorrow we have a busy day in regards to market data releases, with European GDP & Consumer Price Index releases from Europe, we may start to see Euro strength if these figures come out better than expected. We also have releases from the U.S which may put strength into the USD.

There is no doubt that right now is a fantastic time for clients selling Sterling, so if you need a live quote, please contact me directly at prem.raja@currencies4you.com