The Pound is too weak. Overview for 12.04.2022

GBPUSD is still falling and slowly approaching the lows. 

The Pound sterling resumed its decline against the USD. The current quote for the instrument is 1.3012.

The statistics published today showed that the Unemployment Rate in the United Kingdom dropped to 3.8% in February after being 3.9% in the previous month. The Average Earnings gained 5.4%, the same as expected, after adding 4.8% the month before. 

The Claimant Count Change showed -46.9K in March, after being -48.1K in February and against the expected reading of -41.1K. 

So, the British labour market is looking pretty fine given all current macroeconomic data. Enterprises and manufacturers do not transfer their problems with supply chains to personnel and it’s a good signal. however, one shouldn’t exclude the possibility that it might happen in the future and the labour market will have to find support somewhere else. 

The Pound sterling barely responded to positive news that came from the labour market. The GBP remains under pressure against the USD, just like before, and its prospects are not so bright.