Pound rebounds with British employment data
Sterling recuperated from moderate losses against the dollar and the euro on Wednesday, after official statistics showed job growth in the United Kingdom continued in the quarter through August, though at a slower pace than in the three months ending with July. The employment rate remained at a record high of 74.5%.
The pound was flat against the euro at 11:14 a.m.CET, trading at 0.8929, after weakening to 0.89551 earlier in the session. Compared to the dollar, the pound added 0.17% to change hands for 1.2318, compared to the daily low of 1.2257. The FTSE 100 was still subdued, holding 0.2% in the red, five points under the 7,000 mark at 11:01 a.m. CET. Travis Perkins sunk 6.72%, followed at the bottom of the list by Reckitt Benckiser, which lost 2.29%. Burberry and Anglo American were the biggest gainers, trading 2.35% and 2.23% up, respectively, while International Consolidated Airlines was next, with a gain of 2.22%.