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GBP/USD slips slightly on higher wages and higher unemployment
The important UK November and December jobs report has just hit the screens. UK wages were expected to rise to 5.7% from 5.2%.They have risen by 5.6%. The ILO unemployment rate was forecast to rise to 4.4% in the 3 months to November, from 4.3% and it has done exactly that. The December payroll count has fallen by 47k, where an 8k fall was forecast. The take-away from all this data is not especially positive and the Pound has edged a little lower on the news. The higher level of UK wages at the same time as payrolls are falling and unemployment is picking up is not great news. The GBP/USD is right now trading at 1.2264
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