12.08.2015 - The unemployment rate in the UK was 5.6%

The volatility of the price of the British pound showed strong growth against a background of the publication of statistics on the labor market in the UK. Thus, the unemployment rate was 5.6% in June, which coincided with forecasts of analysts. At the same time, average wage growth slowed to 2.4%, against 3.2% in May. The number of unemployed in June was reduced by 4,9 thousand, despite the expected growth of 1.4 thousand. The weakening of the US dollar supports demand for the pound, but given the expected rise in interest rates of the Fed and saving parameters of monetary policy of the UK, we remain a medium-term negative outlook on the British currency.

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