UK labor market data released amid pound rise and dollar correction
ING ING Groep NV ADR
$32.33 +1.54%
View chart & analysis → - 1The GBP/USD exchange rate rose 0.35% to 1.3352 dollars.
- 2The UK Office for National Statistics stated that the UK unemployment rate fell to 4.7% for the three months ending in August.
- 3The UK Office for National Statistics announced that job vacancies fell 2.9% to 691,000.
So what's the key point?
The value of the pound rose as the UK unemployment rate dropped to 4.7%. Although the number of jobs decreased, the reduction in unemployed people has strengthened the British currency.
Source Investing.com · View original ↗
Today's 5 AI picks, all freeNothing hidden: past picks and how they did against the S&P 500.