UK labour-market data was mixed with clear evidence of weaker demand offset by higher-than-expected wages growth. The Pound to Dollar (GBP/USD) exchange rate traded just below 1.2730 with the Pound to Euro (GBP/EUR) exchange rate at 1.1820 and just below 22-month highs just below 1.1850 recorded on Monday. The latest UK labour-market data recorded an increase in the unemployment rate to 4.4% compared with expectations of no change at 4.3% and the highest reading since October 2021. The data set also indicated that the number of people on payrolls declined by a further 3,000 for May after a revised 36,000 fall for ... (full story)