British Pound attracts significant bids against Japanese Yen on strong UK job data
- The British Pound gains on the back of upbeat UK employment data for three months ending August.
- The UK ILO Unemployment Rate falls to 4.7%, job creation remains strong.
- Investors await the CPI data from both the UK and Japan.
The British Pound (GBP) reacts positively after the release of the strong United Kingdom (UK) labor market data for three months ending August. Against the Japanese Yen (JPY), the British currency has risen 0.12% to near 211.10.
Pound Sterling Price Today
The table below shows the percentage change of British Pound (GBP) against listed major currencies today. British Pound was the strongest against the US Dollar.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | -0.17% | -0.37% | -0.28% | -0.24% | -0.18% | -0.41% | -0.20% | |
| EUR | 0.17% | -0.23% | -0.11% | -0.07% | 0.02% | -0.23% | -0.03% | |
| GBP | 0.37% | 0.23% | 0.11% | 0.16% | 0.25% | -0.01% | 0.19% | |
| JPY | 0.28% | 0.11% | -0.11% | 0.02% | 0.12% | -0.15% | 0.07% | |
| CAD | 0.24% | 0.07% | -0.16% | -0.02% | 0.08% | -0.17% | 0.04% | |
| AUD | 0.18% | -0.02% | -0.25% | -0.12% | -0.08% | -0.25% | -0.03% | |
| NZD | 0.41% | 0.23% | 0.01% | 0.15% | 0.17% | 0.25% | 0.22% | |
| CHF | 0.20% | 0.03% | -0.19% | -0.07% | -0.04% | 0.03% | -0.22% |
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the British Pound from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent GBP (base)/USD (quote).
The Office for National Statistics (ONS) has reported that the economy created 102K fresh jobs, higher than 67K recorded for quarter ending July. The ILO Unemployment Rate dropped to 4.7%, while it was expected to remain steady at 4.9%.
Average Earnings Excluding Bonuses, a key measure of wage growth, arrives at 3.7% Year-on-Year (YoY), higher than estimates and the previous reading of 3.6%. The wage growth measure including bonuses dropped to 3.7% YoY from expectations of 3.8% and the prior release of 3.9%.
Theoretically, signs of strong job creation is a favorable trigger for hawkish Bank of England (BoE) expectations.
Meanwhile, investors await the UK Consumer Price Index (CPI) data for September, which is scheduled for Wednesday.
Economists at Deutsche Bank expect UK price pressures to re-accelerate into September, projecting that inflation will “push to its highest rate all year.” They look for headline CPI to rise to “3.49% y-o-y, with core CPI pushing to 2.74% y-o-y.” Within the basket, Deutsche Bank also anticipates a renewed pickup in services, with “Services CPI, we expect, will also rise, picking up pace to 3.71% y-o-y on stronger base effects.”
Meanwhile, investors also await Japan’s National CPI data for September, which is scheduled for Friday. National CPI ex. Fresh Food is seen at 2.1% YoY, higher than 1.7% in August. Strong inflation figures could reinforce expectations that the Bank of Japan (BoJ) will remain on the monetary tightening path.
Economic Indicator
ILO Unemployment Rate (3M)
The ILO Unemployment Rate released by the UK Office for National Statistics is the number of unemployed workers divided by the total civilian labor force. It is a leading indicator for the UK Economy. If the rate goes up, it indicates a lack of expansion within the UK labor market. As a result, a rise leads to a weakening of the UK economy. Generally, a decrease of the figure is seen as bullish for the Pound Sterling (GBP), while an increase is seen as bearish.
Read more.Last release: Tue Oct 20, 2026 06:00
Frequency: Monthly
Actual: 4.7%
Consensus: 4.9%
Previous: 4.9%
Source: Office for National Statistics
The Unemployment Rate is the broadest indicator of Britain’s labor market. The figure is highlighted by the broad media, beyond the financial sector, giving the publication a more significant impact despite its late publication. It is released around six weeks after the month ends. While the Bank of England is tasked with maintaining price stability, there is a substantial inverse correlation between unemployment and inflation. A higher than expected figure tends to be GBP-bearish.
Author
Sagar Dua
FXStreet
Sagar Dua is associated with the financial markets from his college days. Along with pursuing post-graduation in Commerce in 2014, he started his markets training with chart analysis.
