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Forex pairs in this Article » GBP/USD (London) - Strategists at TD Securities noted that the UK labour market report surprised to the upside again today.

Key Quotes:

“With the unemployment rate falling from 7.4% to 7.1% in November, in line with the downside risk that we had highlighted and significantly beating market expectations for a reading of 7.3%...this leaves the unemployment rate on track to hit the BoE’s 7.0% threshold next month, with the next employment report due on 19 February”.

“In between now and then though we have the next BoE decision on 6 February and the Inflation Report on 12 February, where we’ll likely see the demise of forward guidance and a move to old-fashioned monetary policy, where the focus will be turned toward inflation expectations”.
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