The Pound Sterling slides below 1.3000 against the US Dollar as UK Average Earnings decelerated in the three months ending in May. UK labor market reports the addition of fresh payrolls against a severe drawdown in the three months ending in April. Rising expectations for Fed rate cuts in September have weighed on the US Dollar....
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Tag: employment
Unilever to axe 3,200 office jobs in Europe — source
LONDON, United Kingdom — British consumer goods giant Unilever will cut 3,200 office jobs in Europe by late 2025 in an overhaul announced in March, a source close to the matter told AFP Friday. The job cuts represent approximately one third of Unilever’s office-based jobs on the continent, according to the source who confirmed a...
Pound Sterling retreats as UK labor market cools further, Fed policy in focus
The Pound Sterling declines from 1.2740 against the US Dollar due to weak UK employment data and a firm US Dollar. The BoE could struggle to shift toward policy normalization as steady UK wage growth offset the impact of weaker employment levels. Investors see the Fed arguing to maintain a restrictive framework for longer. The...
Pound Sterling clings to gains ahead of UK employment, US inflation data
The Pound Sterling holds gains above 1.2500 inspired by strong UK Q1 GDP data. The UK economy expanded by 0.6%, moving out of the recession seen in the second half of 2023. Investors await UK employment and US inflation data for fresh guidance. The Pound Sterling (GBP) exhibits strength above the psychological support of 1.2500...