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GBP: hidden powers

15 February 2023

The British pound against the US Dollar has recovered after a previous wave of decline. The current quote is 1.2142. Britain presented the first block of macro statistics scheduled for this week. The unemployment rate in December remained at 3.7%. Average wage in October-December grew by 5.9% from 6.4% earlier. The decline of the growth of wages can stabilise inflation but is unlikely to support the British people.

The number of unemployment claims in January dropped by 12.9 thousand against the forecast growth by 17.9 thousand and previous growth by 19.7 thousand.

The statistics got mixed and failed to support the pound as necessary. Note that the number of vacancies in the employment sector in November-January dropped by 76 thousand to 1.134 million workplaces. Companies have started to make savings. This is not the best news for the economy and the GBP.


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