Pound Declines as U.K. Unemployment Rate Rises – 21 February, 2018

Due to the U.K.’s unexpected rise in unemployment rates, the Pound fell as much as 1 percent to the Dollar and declined against it’s group 10 peers. The Pound weakened to $1.3939, down 0.4 percent as the ILO unemployment hit 4.4 percent. Sterling weakened by 0.3 percent against the Euro to $88.37 Pence per Euro. The Pound also weakened due to the Dollars strength and increased Pressure on Prime Minister Theresa May by her own party looking for a quick clean break from the European Union.