Great Britain Pound Flat as Employment Data Gives No Direction

The Great Britain pound was little changed today as the employment report released from the United Kingdom during the current trading session was mixed, giving the currency no compelling reason to go either up or down.

October’s employment data showed that the number of people seeking unemployment benefits rose by just 700 in September from August. But the August value got a big revision from 2,400 up to 7,100, which is not good news. The unemployment rate held steady at 4.9% in August and average weekly earnings rose 2.3% in three months through August compared to the same period the year ago. Both those indicators were in line with expectations.

GBP/USD traded at 1.2306 as of 13:37 GMT today, near its opening level of 1.2294. EUR/GBP was up from 0.8924 to 0.8956 but backed off to 0.8907 by now.

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