Data released moments before by the Office of Statistics and Labor in the United Kingdom showed that the labor market continues to recover, as figures showed a monthly increase in the number of employees in August by 241 thousand to reach 29.1 million jobs, bringing the British labor market back to pre-pandemic levels (February 2020).

Unemployment rates declined in the months between (May to July) to reach 4.6%, coinciding with a quarterly increase in the employment rate by 0.5%.

Average wages grew by 8.3% in the three months between May and July, and by 6.8%, excluding bonuses, to come better than market expectations, which indicated a rise to 8.2%.

The British pound rose against the US dollar by more than 30 points, with the opening of the European markets for today’s session, and it is trading at 1.3860 levels.

On the other hand, the pound sterling rose against the Australian dollar by more than 100 points, taking advantage of the declines of the Australian dollar after the statements of the Governor of the Bank, Philip Lowe, in the Asian session, who announced that the interest rates of the Australian Bank are not expected to rise before 2024 due to the weak growth in wages.