June 11, 2014 / 9:02 AM / 4 years ago

Sterling ticks higher and gilts slip after UK jobs data

LONDON, June 11 (Reuters) - Sterling ticked higher and British gilt futures briefly hit a two-month low on Wednesday after data showed British unemployment hit its lowest level since early 2009.

The pound rose to a day’s high of $1.6791 after the data, while the September gilt future contract briefly hit its lowest level since April 4 at 108.81. It has since rebounded to 109.01, down 21 ticks on the day, and roughly its level before the data was released.

Britain’s jobless rate fell to 6.6 percent in the three months to April from 6.8 percent in the first quarter and hiring surged.

But annual pay growth including bonuses tumbled to just 0.7 percent from 1.9 percent, partly reflecting tax-related changes in the timing of bonus payments a year ago.

The FTSE 100 index rose briefly after the data, but has since slipped and was last at 6,851.29 - down 0.32 percent on the day. (Reporting by Andy Bruce and Patrick Graham, editing by David Milliken)

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