Post BREXIT Turmoil is Here
EUR/USD is struggling above 1.1000, moving back under the figure as North American players filter in, but with EUR/GBP sales also likely to be a driver after the healthy UK employment data releases a little over half an hour ago.
UK employment rate unexpectedly drops
The UK labor data showed improvement in employment as the unemployment rate declined while market consensus had called for no changes. On the other hand weekly earnings ex bonuses rose in slower pace than expected.
Bank of England comments the post-Brexit business conditions
Business uncertainty rose markedly after Brexit vote, Firms seeking to maintain business as usual, Most firms see no near-term impact on investment and hiring, Third of the UK forms see negative Brexit impact in the next 12 months, BoE sees no evidence of Sharp slowing of activity after vote, Firms see positive effect on exports after Brexit vote, Early evidence shows Banks are maintaining lending, Firms report reduced demand for commercial real estate.
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