GBP/USD offers little reaction so far to better UK jobs data

The UK July (3months) and August jobs reports have just been released. Ahead of this the GBP/USD was largely unchanged from where it was at the time of the earlier update looking at the Pound and still holding below its 21 day moving average (now in place at 1.2082). The UK jobs data has just revealed a much greater than forecast rise ins the 3 months employment change to July, of 265k. The markets were looking for a number of less than half of that. Wages has dropped back a little more than forecast though and the underlying rate of unemployment did drop back to 4.1%. The reaction in the Pound to the data has seen the GBP/USD just now push back above the noted 21 day moving average, but overall so far the move has been pretty muted to be honest. We shall just have to see it it does pick up some steam, from what was on balance a good set of data. The GBP/USD is currently trading at 1.3079