Home Economy Pound to Dollar Rate Buoyed by UK Jobs Figures

Pound to Dollar Rate Buoyed by UK Jobs Figures

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The pound edged lower on Monday, moving further away from the one-week high it hit against the dollar on Friday. A quiet economic calendar left investors waiting for fresh data to assess the strength of the post-lockdown economic recovery and when interest rates could be increased. Inflation – which the Bank of England (BoE) expects to rise sharply and hit a peak of 4% this year – and retail sales figures will be published later this week.

Official jobs data arrived this morning. Employers added 241,000 staff to their payrolls in August. This pushes the total number of payrolled employees above levels seen in February 2020, the last full month before Covid-19 hit and the nation went into lockdown.

Separate data from the Office for National Statistics (ONS) showed the ILO Unemployment Rate – the number of unemployed workers divided by the total civilian labour force – was 4.6% in the three months to July, down 0.1% from the…

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