Sterling Steady Amid Cooling UK Jobs Market

The Pound Sterling has held steady against both the Euro and US Dollar following the latest UK jobs report, which showed further cooling in employment and private-sector wage growth.

This data reinforces expectations that the Bank of England will have little need to raise interest rates this year.

According to the report, the UK jobs market has cooled to healthy levels where it is no longer an inflationary driver.

While the data is on the weak side, it is not dangerously weak, suggesting that rate hikes are unlikely based on this jobs data alone.

However, this week's inflation data could have more of an influence on interest rates.