Analysts at Scotiabank noted that the UK data reports were mixed, with unemployment data showing a decline in the unemployment rate to 4.2% (4.3% last) and weekly earnings data nudging up to 2.8% (from 2.6%).
"Claimant count unemployment data were unchanged and jobless claims rose 11.2k, however."
"Short sterling contracts rallied this morning and the GBP slipped off the intraday high but UK rate hike probabilities for May remain elevated (85%)."
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