Sterling Barely Changed Following Conflicting Labor Market Statistics.

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The British pound was little changed, having briefly fallen to its lowest level in over a week, after mixed data showed a jobs market that is still hot, although some early signs it may be starting to cool.

Britain’s unemployment rate held close to a half-century low, but the number of people employed grew less than expected in a Reuters poll and the number of job vacancies fell for the first time since mid-2020, the Office for National Statistics (ONS) said.

Wages, not including bonuses, rose by 4.7%, above expectations of 4.5%. But the real value of pay, not including bonuses, dropped faster than at any time since records began in 2001.

By 0804 GMT, the pound was flat at $1.2051, after earlier dropping to its lowest level since Aug. 5 at $1.2008.

Against the euro, it was little changed at 84.275 pence.

Reuters.

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