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GBP/USD slips after UK unemployment rate rises

The latest UK monthly jobs report has just been released and it has slightly disappointed. The claimant count is slightly higher and payrolls did not rise by as much as expected-20k versus 25k. Wages only rose by 5.6% too, which was 0.2% below consensus. The rise to 3.9% in the unemployment rate has seemingly what has pushed the pound lower after the release. The GBP/USD has has dropped back slightly to test the 1.28 handle after this report. The reader is reminded of the lows seen yesterday, at 1.2795. It remains to be seen if this data is weak enough to force the pound below that level or not. The GBP/USD is currently trading at 1.2803
 

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