{"id":97622,"date":"2020-03-17T08:30:16","date_gmt":"2020-03-17T12:30:16","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=97622"},"modified":"2020-03-17T09:27:12","modified_gmt":"2020-03-17T13:27:12","slug":"102712-gbp-cad-pound-loses-strength-as-uk-govt-ponders-measures-to-fight-outbreak","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/102712-gbp-cad-pound-loses-strength-as-uk-govt-ponders-measures-to-fight-outbreak\/","title":{"rendered":"GBP\/CAD: Pound Loses Strength as UK Govt Ponders Measures to Fight Outbreak"},"content":{"rendered":"<p><a href=\"https:\/\/currencylive.com\/exchange-rate\/gbp-to-cad-exchange-rate-today\/\">GBP\/CAD<\/a> is declining on Tuesday, after gaining 1.40% yesterday.<\/p>\n<p>Currently, <a href=\"https:\/\/currencylive.com\/exchange-rate\/gbp-to-cad-exchange-rate-today\/\">GBP\/CAD<\/a>\u00a0is trading at 1.7075, down 0.68% as of 10:18 AM UTC. The price hit a daily low at 1.7034.<\/p>\n<p>The pair is pointing downwards as oil prices move sideways while the UK is hit by coronavirus pessimism. The <a href=\"http:\/\/currencylive.com\/news\/currency\/gbp\">pound<\/a> also reacted on fresh labor market data and government\u2019s announcement that it would support businesses amid the coronavirus outbreak.<\/p>\n<h2>UK Created More Jobs Than Expected, But Unemployment Surged Too<\/h2>\n<p>The Office for National Statistics said that Britain beat expectations and created more jobs in the three months to January. Nevertheless, unemployment increased as well.<\/p>\n<p>The number of employed people rose by 184,000 to 32.985 million, the ONS stated, driven by record quarterly surges in full-time and female employment. Analysts polled by Reuters expected an increase by 143,000.<\/p>\n<p>However, unemployment increased by 63,000 during the same period, which is the biggest increase since 2011.<\/p>\n<p>ONS statistician David Freeman <a href=\"https:\/\/www.reuters.com\/article\/us-britain-unemployment\/uk-jobs-boom-gathers-pace-but-unemployment-rises-too-ons-idUSKBN2141D7\">commented<\/a>:<\/p>\n<p><em>\u201cToday&#8217;s figures show continuing record employment but also a slight rise in unemployment on the year&#8230; This is because we also see a record low rate for people neither working nor looking for work.\u201d<\/em><\/p>\n<p>ONS data showed that wages continue their growth. Growth in total earnings, including bonuses, increased by an annual 3.1% in the three months to January, from 2.9% in the three months to December. Without bonuses, the indicator slowed to 3.1% from 3.2%. Analysts expected total earnings to increase by 3.0% and regular pay to stay flat.<\/p>\n<p>Recent data proves that UK Prime Minister Boris Johnson\u2019s victory in the December election boosted sentiment, but the coronavirus outbreak bedevil the economy.<\/p>\n<p>Last week, the Bank of England cut the interest rate to 0.25% from 0.75% and launched emergency credit measures to help businesses avoid bankruptcies.<\/p>\n<h2>UK Government to Unveil More Support for Businesses<\/h2>\n<p>Today, the British governments should reveal further stimulus for domestic businesses hit by the coronavirus outbreak, as people were previously told to avoid restaurants, clubs, pubs, theaters, and cinemas.<\/p>\n<p>Finance minister Rishi Sunak is about to announce the new measures at a daily government news conference.<\/p>\n<p>Adam Marshall, director general of the British Chambers of Commerce (BCC), believes that the government should expand support to fight the coronavirus crisis. He <a href=\"https:\/\/www.rte.ie\/news\/business\/2020\/0317\/1123681-britain-to-announce-further-business-support\/\">told<\/a> BBC:<\/p>\n<p>\u201c<em>Government has got to do more on the upfront costs facing businesses. Banks have got to do more to get support to the front line. And also I think the UK has to do more to coordinate a global economic response<\/em>.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>GBP\/CAD is declining on Tuesday, after gaining 1.40% yesterday. Currently, GBP\/CAD\u00a0is trading at 1.7075, down 0.68% as of 10:18 AM UTC. The price hit a daily low at 1.7034. The pair is pointing downwards as oil prices move sideways while the UK is hit by coronavirus pessimism. The pound also reacted on fresh labor market [&hellip;]<\/p>\n","protected":false},"author":163946603,"featured_media":82480,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1694,1379],"tags":[1680,1394,1868],"class_list":{"0":"post-97622","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-cad","8":"category-gbp","9":"tag-cad","10":"tag-gbp","11":"tag-gbp-cad"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>GBP\/CAD: Pound Loses Strength as UK Govt Ponders Measures to Fight Outbreak - Currency Live<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/currencylive.com\/news\/102712-gbp-cad-pound-loses-strength-as-uk-govt-ponders-measures-to-fight-outbreak\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Anatol Antonovici\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102712-gbp-cad-pound-loses-strength-as-uk-govt-ponders-measures-to-fight-outbreak\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102712-gbp-cad-pound-loses-strength-as-uk-govt-ponders-measures-to-fight-outbreak\\\/\"},\"author\":{\"name\":\"Anatol Antonovici\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/3bd9732cd8453e3df154132a302a4416\"},\"headline\":\"GBP\\\/CAD: Pound Loses Strength as UK Govt Ponders Measures to Fight Outbreak\",\"datePublished\":\"2020-03-17T12:30:16+00:00\",\"dateModified\":\"2020-03-17T13:27:12+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102712-gbp-cad-pound-loses-strength-as-uk-govt-ponders-measures-to-fight-outbreak\\\/\"},\"wordCount\":416,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102712-gbp-cad-pound-loses-strength-as-uk-govt-ponders-measures-to-fight-outbreak\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/11\\\/usd-cad-exchange-forex.jpg\",\"keywords\":[\"cad\",\"gbp\",\"gbp\\\/cad\"],\"articleSection\":[\"CAD\",\"GBP\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2020\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102712-gbp-cad-pound-loses-strength-as-uk-govt-ponders-measures-to-fight-outbreak\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102712-gbp-cad-pound-loses-strength-as-uk-govt-ponders-measures-to-fight-outbreak\\\/\",\"name\":\"GBP\\\/CAD: Pound Loses Strength as UK Govt Ponders Measures to Fight Outbreak - 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