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UK DATA: Labour market data broadly in line with expectations at first glance

UK DATA
  • At first glance UK labour data looks broadly in line with expectations across all metrics but with payrolls employees softer than expected and the LFS employment change higher than expected.
  • The claimant count was revised down (to a rate of 4.6% last month) with the downward revision offsetting the August increase to leave the rate at 4.7% - note that is still impacted by eligibility changes.
  • GBPUSD moved around 7-8 pips higher on the release to its intraday high (very small move).

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