U.K unemployment figures drop again but average earnings a little worse than expectations (Daniel Wright)

Could this Key Week for Brexit Negotiations Impact AUDGBP?

Unemployment figures released for the U.K this morning bought us a mixed bag for Sterling and as I write this the GBP/AUD exchange rate is fairly stable at roughly 1.79.

Unemployment figures for the U.K have dropped to 6.6% which is seen as good news, however the average earnings did not grow with as much pace as had been expected. This figure is important as it will also play a key role in the possibility of interest rate hikes for the U.K. Interest rate hikes generally can make a currency more appealing to investors and even speculation of a rate hike can lead to a spike in value for the particular currency.

It seems worries about the Australian Dollar getting too strong have died down a little but I also think that come the end of the year the Pound will be stronger against the Australian Dollar as long as now major surprises arise.

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