Employment figures help push GBP/EUR back towards 1.14

Pound Vs US Dollar

As my colleague Alastair alluded to in his post of yesterday, today’s employment data has given sterling a small boost against the Euro with levels pushing from a low of 1.1335 to peak just shy of 1.14.

Employment was at its highest since records began in 1971 and wages rose faster than inflation in the first quarter of the year, in fact the Office for National statistics said the number of people in work rose by 197,000 in the first three months of the year compared to the three months before.

Today’s numbers showed the jobs market is enjoying a massive boom and will bring hope that the current squeeze on wages and living standards may finally be ending, a welcome boost this morning for the pound.
For the rest of the week it is very quiet from the pounds point of view with the main focus being placed on inflation figures from Europe. As a result any movement for the pound is likely to be influenced from data overseas and I would expect GBP/EUR to trade in a fairly flat range this week.
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