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The surprise drop in the UK's unemployment rate
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Unemployment in the UK fell again this Wednesday and it's another sign that Britain's economy is recovering from the malaise of the past few years. The unemployment rate dropped to 6.6%.
While the European Central Bank announced stimulus measures for the eurozone last Thursday, there's increased speculation as to when the Bank of England will start raising rates in an attempt to cool things down a little, notably in the housing market.
Lee Hopley, from the Manufacturers' Organisation, EEF, says this year we've seen a great run of positive data about the UK and that's not about to end any time soon. She says there's an improving sense of confidence and she's predicting further growth.
Trader, Ken Veksler, has fairly mixed views on the strength of the British pound. "Its the best of a bad lot", he says, noting that markets are already pricing in future rate hikes from the BoE. Saxo Bank's Head of FX Strategy, John Hardy, writes that strong UK data might be felt more in EURGBP rather than GBPUSD.