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2026-02-17 15:16:24
[Can the Pound Stabilize After a Short-Term Plunge Due to a Cooling Job Market?] ⑴ Data released on Tuesday showed signs of a cooling UK labor market, causing the pound to weaken slightly against the dollar. As of press time, the pound was down 0.29% at $1.3594, compared to $1.3613 before the data release. ⑵ Specifically, the annual growth rate of average weekly earnings in the UK for the three months to December was 4.2%, lower than the previous 4.6% and also below market expectations. During the same period, the UK unemployment rate rose slightly from 5.1% to 5.2%, in line with economists' previous forecasts. ⑶ The combination of slowing wage growth and rising unemployment may provide more justification for the Bank of England to continue cutting interest rates. Market participants will closely monitor inflation data to determine the central bank's future policy path. ⑷ Despite intraday pressure, the pound has risen approximately 0.8% against the dollar this year. On the one hand, Trump's tariff comments in the US have triggered market concerns, dragging down the dollar's performance; on the other hand, the UK economy has recently shown some signs of recovery, providing support for the pound.
