UK Pound Plummets: Record Unemployment Fuels Currency Drop, Bank of England's Next Move Crucial

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UK Pound Plummets: Unemployment Soars to 5-Year High, Bank of England Rate Cut Expected

UK Pound Plummets: Unemployment Soars to 5-Year High, Bank of England Rate Cut Expected

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CNBC Awaaz•17-02-2026, 17:45

UK Pound Plummets: Unemployment Soars to 5-Year High, Bank of England Rate Cut Expected

•The British pound fell by 0.2% against the dollar, reaching $1.359, and also weakened against the euro.
•UK unemployment rate hit 5.2% in December 2025, the highest in 5 years, signaling a weakening job market.
•Payroll employees decreased by 134,000 year-on-year in January 2026, indicating reduced hiring.
•Bond yields fell, suggesting investor expectation of future interest rate cuts by the Bank of England.
•Markets anticipate at least two interest rate cuts this year, with a 75% chance of a cut next month.

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