Pound to euro exchange rate: Sterling improves as unemployment hits four per cent low.
E POUND has made gains against the euro following a 13-month low, thanks to surprising UK unemployment data which has fallen to record new lows, according to Office for National Statistics.
The release of UK unemployment figures played a part in this, which saw lows of four per cent.
Unemployment has fallen to a 43-year low which is good news for the economy.
Laura Parsons, currency analyst at TorFX explained how the pound has improved from yesterday.
She told Express.co.uk: “A surprising drop in the UK’s unemployment rate helped GBP/EUR edge slightly higher on Tuesday.
“Unemployment fell to four per cent, the lowest level since 1975, but with wage growth disappointing forecasts the pound’s gains were minimal.”
Wage growth in June was slower than predicted, with annual pay growth falling from 2.5 per cent to 2.4 per cent.
Regular pay growth fell from 2.8 per cent to 2.7 per cent according to the ONS.
EURO FX RATES TODAY
EURO = 0.8700
STG = 1.1000
USD = 1.2450
FOR LARGER AMOUNTS CALL US ON 02871374213