UK employment data made for mixed reading; BoE implications? - Scotiabank

Analysts at Scotiabank explained that the UK employment data made for mixed reading.

Key Quotes:

"The markets focused mainly on the increase in the Dec unemployment rate to 4.4% (first increase since Aug 2016) from 4.3% in Nov, less so on the push up in weekly earnings (ex-bonuses) to 2.5%. 

Sterling was already slipping ahead of the data which gave the markets additional motivation to sell. We note, however, that BoE rate hike expectations for May remain more or less unchanged (65% priced in)."