Sterling Flat as Employment Data Doesn’t Help in Establishing Trend

The Great Britain pound traded basically flat today after the release of employment data. The report was mixed, giving the currency no help in finding a direction to move.

Average weekly earnings rose 2.3% in the three months to February from the same period a year ago, the same as in the previous reporting period, while forecaster had predicted slowdown of wage inflation to 2.1%. The unemployment rate was steady at 4.7% — the lowest since August 1975. The number of people claiming unemployment benefits rose by 25,500 in March from the previous month while experts had promised a drop by 10,200.

GBP/USD traded near its opening level of 1.2488 as of 11:11 GMT today. EUR/GBP was steady at 0.8488.

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