The Great Britain pound gained today after employment data showed strong performance of the labor market in Britain. Prospects for a delay for the Brexit also supported the currency.
The Office for National Statistics released a report on the UK labor market in the period from October to December, which showed very strong numbers. The employment rate was at 75.8%, the highest since estimates began in 1971. The unemployment rate remained at 4%, and no lower figures have been seen since the December 1974 to February 1975 period. The number of vacancies in the period from November 2018 to January 2019 was estimated at 870,000 — the highest since records began in 2001.
Chief of European Commission Jean-Claude Juncker said in an interview with the German newspaper Stuttgarter Zeitung that the European Union will not oppose a delay in Brexit if the United Kingdom requests it. Juncker stated:
Any decision to ask for more time lies with the UK. If such a request were to be made, no one in Europe would oppose it. If you are asking for how long the withdrawal can be postponed, I have no time frame in mind.
GBP/USD gained from 1.2921 to 1.2951 as of 13:12 GMT today, rebounding from the daily low of 1.2896. EUR/GBP declined from 0.8749 to 0.8719, retreating from the daily high of 0.8763. GBP/JPY was up from 142.85 to 143.46 after falling to the session minimum of 142.48 earlier.
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