Pound higher ahead of UK job numbers
February 22, 2021SharePrint
The British pound continues to gain ground. Currently, GDP/USD is trading at 1.4047, up 0.27% on the day. The pound has posted two winning sessions and is again in positive territory on Tuesday. The currency has enjoyed an excellent February, with gains of 2.5 per cent.
The UK releases key employment data on Tuesday (7:00 GMT). Unemployment claims fell to 7.0 thousand in December, after a sharp gain of 64.3 thousand beforehand. The estimate for January stands at 13.8 thousand. Wage growth has been accelerating over the past five months, improving to 3.6% in December. The upswing is projected to continue, with a forecast of 4.1%. At the same time, the unemployment rate has been rising and is expected to edge up from 5.0% to 5.1%.