Foreign Exchange Daily Market Update 14/12/2016

Wed, December 14, 2016

Pound Declines As U.K. Employment Falls

U.K. employment declined for the first time in more than a year in the last three months as the labor market showed some signs of instability.

The number of people in work fell by 6,000 to 31.76 million people. Although it is a minor drop, and the jobless rate was unchanged at 4.8%, the statistics office said the labor market “appears to have flattened off in recent months.”

Single-month data showed that the unemployment rate advanced to 4.9% in October from 4.6% the month before. Unemployment also declined over the three-month period, by 16,000 to 1.62 million.

This data come a day before the BOE releases its latest policy decision, when it’s expected to maintain its key interest rate at a record-low 0.25%.

The Pound was up 0.3% to 1.2715 against the Dollar as of 12:57 p.m. yesterday before falling to 1.2656. It strengthened 0.5% against the Euro to 1.1985 before declining to 1.1909.

Data to look out for today.

Not Much Data Out Today

CURRENCY PAYMENTS MADE SIMPLE

PRESS RELEASE

KBRFX was mentioned in the Essex Chronicle for the top 100 companies by turnover in Essex http://www.essexchronicle.co.uk/100-Essex-businesses-revealed-annual-survey/story-25140555-detail/story.html

Data Releases