Higher jobless figures pushes sterling down to daily bottom

Posted 21 February, 2018

On Wednesday, February 21, the sterling rate fell to the bottom over the day driven by the increased unemployment. The released labor report affected forecasts for the interest rate upward revision though wages rose.

The sterling-to-US dollar went down to 1.3943 today (0.36% down), against some 1.3965 before. The euro to sterling rate peaked over the day coming to 0.8832 (0.8825 before).

The sterling has lost grounds after the release of the labor report in the UK. Specifically, the data showed that the jobless rate in the country hiked to 4.4% in October-December posting the first increase over about two years.

As a result, the total number of the unemployed amounted to 1.47 million (46,000 up), while that of the employed reached 32.147 million (88,000 up) over the period under review.

According to the report, despite higher wages inflation still exceeds earnings. The annual inflation rate stands at 3%. The earnings increased by 2.5% y-o-y over the period under review (2.3% up a month before), the data shows.

Even with improved wages, the forecasts for the short-term interest rate upward revision by the Bank of England have been affected by rising jobless figures.

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22 February, 2018 11:26

← Regulators in some countries more cryptocurrency-friendly

Cryptocurrency fell under massive selloffs in late January due to the risk of regulation tightening. At the same time, the situation has somewhat improved lately and demand for digital coins has started recovering. Back in early February bitcoin changed hands below $6,000, though this week the leading cryptocurrency has been seen within $10,000-11,000.

Regulators in some countries more cryptocurrency-friendly

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21 February, 2018 12:04

Price for digital coins lower even after Seoul eases position on crypto trading →

Bitcoin and other cryptocurrencies dropped in Asia on February 21 even despite the cue about improved conditions for cryptocurrency trading in South Korea. The key currency in terms of market capitalization – bitcoin – changed hands at $10,714.00 on the Bitfinex today (6.26% down d-o-d), followed by Ethereum priced at $872.32 (7.77% down).

Price for digital coins lower even after Seoul eases position on crypto trading
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