Sterling skyward after job news

Sterling skyward after job news

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Sterling is up this morning against the US dollar after better than expected UK job figures.

The ONS has announced that 84,000 jobs were created in the three months to March, which is much higher than the expected 50,000 that was predicted. 

Sterling hit 1.42 this morning, a marked difference from the start of May when GBP/USD was hovering around the 1.38 mark. The last time we saw 1.43 was over three years ago back in April 2018.

The continued easing of the UK lockdown and resumption of some international travel has also helped to push the pound higher, while at the same time markets are choppy with the threat of the Indian variant potentially blowing the full unwinding of lockdown off course.

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