Investing.com - The number of people claiming unemployment benefits in the U.K. declined unexpectedly in July, while the country’s jobless rate held steady near six-year lows, official data showed on Wednesday.
In a report, the U.K. Office for National Statistics said that the claimant count fell by a seasonally adjusted 4,900 last month, compared to expectations for a gain of 1,500 people.
June’s figure was revised to an increase of 200 people from a previously reported rise of 7,000.
The report also showed that the rate of unemployment held steady at 5.6% in the three months to June, in line with forecasts.
GBP/USD was trading at 1.5555 from around 1.5591 ahead of the release of the data, while EUR/GBP was at 0.7166 from 0.7141 earlier.
Meanwhile, European stock markets held on to sharp losses. London’s FTSE 100 dropped 1.4%, the EURO STOXX 50 tumbled 2.2%, France's CAC 40 plunged 2.3%, while Germany's DAX sank 2.2%.