Pound sees lax moves as UK unemployment rate moves up

British Pound saw lax moves as markets focused on the labour market trends in the UK. The UK unemployment rate moved up and wage growth softened in the first quarter ahead of the rise in payroll taxes, official data showed today. The unemployment rate rose to 4.5 percent in the three months to March, rising from from 4.4 percent in the three months to February, the Office for National Statistics reported. The average regular earnings excluding bonuses rose 5.6 percent on a yearly basis in the January to March period, slower than the 5.9 percent rise in the preceding period. Payroll employees for April dropped 33,000 compared to the previous month and 106,000 from the previous year to 30.3 million. GBP/USD pair trades at 1.3227, up 0.34% on the day. The pair tested three-week low in last session.

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