Forex - EUR/GBP, GBP/USD Flows: GBP little changed despite weak employment data


 08:49 (GMT) 15 Oct

  [Forex Flows]

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EUR/GBP, GBP/USD Flows: GBP little changed despite weak employment data (0101-PJVD-C01)

GBP essentially unchanged after the weaker than expected employment data this morning, with focus still exclusively on Brexit. But the data is significant. The 56k decline in employment in the last 3 months was the largest since 2015, and average earnings growth eased a touch, while vacancies continued to fall. Not hugely surprising given the economic slowdown, and probably not particularly relevant for GBP in the short term, but nevertheless a reminder that the basic economic data don't currently argue for GBP strength, even if Brexit concerns are resolved.


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