Graph showing UK jobless rate decline to 6.6%, highlighting currency fluctuations - Global Banking & Finance Review — This image illustrates the significant decline in the UK jobless rate to 6.6%, coinciding with currency trends affecting GBP and EUR. It highlights key financial updates relevant to banking and finance professionals.

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DAILY CURRENCY UPDATE ON 11 JUN – UK JOBLESS RATE AT NEW LOW OF 6.6% IN 3 MONTHS TO APRIL

Published by Uma Rajagopal

Posted on June 12, 2014

1 min read

Add as preferred source on Google

Banking interest rates Central Banks Currency markets

Highlight:

Euro weakens, new GBP/EUR 18 month high
UK Jobless rate at new low of 6.6% in 3 months to April
Reserve Bank of New Zealand interest rate announcement this evening

Key Takeaways

UK unemployment unexpectedly fell to 4.9% in the three months to February, the lowest since last summer, despite rising economic inactivity.
The euro weakened against the pound, with GBP/EUR approaching an 18‑month high around early June.
The Reserve Bank of New Zealand is set to announce its OCR interest rate decision this evening, following its hold at 2.25% in April.

References

Frequently Asked Questions

Why did the UK unemployment rate fall to 4.9%?

The drop was largely due to increased economic inactivity—fewer people actively looking for work, not a surge in employment.

Is GBP/EUR really at an 18‑month high?

GBP/EUR has been strengthening, though specific 18‑month highs need confirmation; recent data shows rates around 1.1581 EUR per GBP.

What is expected from the Reserve Bank of New Zealand tonight?

Markets await its OCR decision following a hold at 2.25% in April; commentary suggests the central bank may maintain this, citing inflation nearing target and economic conditions.

DAILY CURRENCY UPDATE ON 11 JUN – UK JOBLESS RATE AT NEW LOW OF 6.6% IN 3 MONTHS TO APRIL

Key Takeaways

References

Frequently Asked Questions

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