Pound Falls Versus Euro as London Job Vacancies Jump 76%

The pound weakened against the euro for the first time in four days as a report showed job vacancies at London financial-services companies jumped 76 percent in January.
The U.K. currency declined from the strongest level versus the dollar in more than a week even as a separate survey showed Briton’s concern about losing their jobs eased last month. Vacancies in London’s main financial district and elsewhere in the British capital climbed to 2,331 in January from 1,323 a month earlier, recruitment consultant Morgan McKinley said today. U.K. government bonds were little changed.
The pound depreciated 0.7 percent to 85.11 pence per euro at 9:17 a.m. London time, after rising to 84.45 pence, the strongest since Jan. 24. It weakened 0.5 percent to $1.5726, after climbing to $1.5845 on Feb. 8, the most since Feb. 1.
A monthly index of job security rose 6 points to minus 16 in January, the highest reading since October, Lloyds Bank said in an e-mailed report today. The gauge of employment prospects dropped to minus 45 from minus 42 in December, the unit of Lloyds Banking Group Plc said.
The 10-year gilt yielded 2.11 percent. The 1.75 percent security due in September 2022 traded at 96.935. Two-year gilt yields were at 0.33 percent.

ABDUL WAHEED
PGDM 2nd SEM.