Sterling Slips as Cracks Spread Across UK Labor Market

Sterling Slips as Cracks Spread Across UK Labor Market - Moby THE GIST The U.K. labor market just handed the Bank of England a permission slip. Unemployment rose to 5.2% and wage growth eased, pushing sterling lower and gilt yields down as markets leaned harder into rate cut expectations. WHAT HAPPENED Fresh U.K. data showed a softer jobs and pay backdrop, and markets moved quickly. Unemployment rose to 5.2% in the three months to December, up from 5.1% previously and the highest reading in about five y ...