The UK unemployment rate came in at 4.2% against an expected 4% and an earlier reading of 4%. In terms of sheer numbers, the registered unemployed added 29,000, the highest since the Covid outbreak. The whole data paclk is topped off by a strong jump in wages (ex bonus), +7.8% y/y against the expected 7.4% and the earlier reading of 7.3%. Wages data continues to run hot and that might keep the pressure on the BOE to tighten policy further. The GBPUSD pair is gaining after today's data reading.
Morning wrap (22.10.2025)
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Morning wrap (20.10.2025)