LONDON, Jan 18 — Sterling traded lower against the dollar today after data showed British employers added a record number of staff in December, another sign the economy’s rebound could potentially fuel further inflation.
GDP data on Friday showed the economy is bigger than what it was before the first Covid-19 lockdown and the unemployment rate for the three months to the end of November fell to 4.1 per cent. “Expectations have already run quite far,” wrote Commerzbank analyst You-Na Park-Heger, adding that investors would be eagerly waiting for monetary policy clues when BoE governor Andrew Bailey speaks to the Treasury Select Committee on Wednesday.
It remains unclear at this stage whether Johnson will be able to save his premiership from the so-called “partygate” scandal but investors don’t believe the fate of the Prime Minister is a game changer for the currency.
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