UK’s Sharma: Jobs data would have been worse without govt support

Dhwani Mehta FXStreet

In an interview with BBC on Thursday, the UK Business Minister Alok Sharma commented on the latest labor market report released in the last hour.

Key quotes

"If we hadn't provided this support, we would be in a far worse position."

"The cost of inaction would have been much greater than the cost of action."

GBP/USD reaction

GBP/USD is unfazed by the above comments, as it nurses losses around 1.2550. The upbeat UK jobs data failed to offer any respite to the GBP bulls, as the major fell as low as 1.2536 post-the release.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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