Pound is recovering successfully. Overview for 13.09.2022

The British pound against the US dollar continues to recover. The current quote is 1.1717.

Morning statistics demonstrated that the unemployment rate in Britain in July suddenly dropped to 3.6% from 3.8% earlier. Also, average earnings in the previous quarter grew by 5.5% against the forecast 5.4% and previous growth by 5.2%.

Mind the unemployment claims report: in August, the index grew by 6.3 thousand against the forecast decline by 13.2 thousand and previous falling by 10.5 thousand.

The employment sector remains active and withstanding both changes inside and outside the country.

The pound reacted quite calmly to both the new Prime Minister of Great Britain Liz Truss and to the new King Charles III. This gives us an idea that after the USD stabilises, excessive pressure will be taken off the pound.