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UK jobs and government borrowing better than expected- GBP/USD could rise further
The latest UK government borrowing and Jobs reports have just hit the screens. Without going into much detail, the takeaway from all this is really quite positive. Borrowing has fallen to just 16 billion pounds and wages have not gained. They are slightly lower, by 0.1%.
The claimant count is low and the employment change over the 3 months to May has accelerated much more than forecast, rising by 148k, where an 80k increase was expected.
Ahead of this data, the Pound was still edging higher and had traded above 1.3445. The immediate reaction to the data has seen the GBP/USD not much changed yet, but there was nothing bad in any of these reports. The GBP/USD is right now at 1.3446
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