16 Aug 2017

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Pound rises, bonds fall on better-than-forecast UK labour data

Anooja Debnath, Bloomberg

London - The pound advanced and UK government bonds fell after the nation’s unemployment rate dropped to the lowest since 1975 and wages rose more than forecast.

Sterling snapped a two-day decline against the dollar and benchmark 10-year gilts fell for a third day after the jobless rate dropped to 4.4% in the second quarter from 4.5% in the three months through May.

Wage growth excluding bonuses accelerated to 2.1%, compared with the median forecast for a 2% increase.

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