February 21, 2018 / 9:46 AM / a year ago

Sterling falls after UK jobless rate rises unexpectedly

LONDON, Feb 21 (Reuters) - Sterling fell to a one-week low on Wednesday after official data showed Britain’s unemployment rate rose unexpectedly for the first time in almost two years in the three months to December.

The pound dropped to as low as $1.3927, down almost half a percent on the day, after trading at $1.3972 before the data was released.

Against the euro, it weakened to the day’s low of 88.45 pence, from 88.26 beforehand.

UK gilt futures extended gains by around 10 ticks while Britain’s FTSE 100 reduced losses slightly, last down 0.2 percent.

Wage growth remained largely unchanged over the period but jumped in December alone, the Office for National Statistics also said. (Reporting by Tommy Wilkes and Kit Rees; Editing by Jemima Kelly)

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