The UK figure for the number of asylum seekers for April will test the resilience of the job market – and the government’s leave scheme. A better than worse figure from the previous crisis would be positive for the pound, while other results could be worse, reports FXStreet analyst Yohay Elam.
“Economists expect demand to have increased by 150,000, surpassing the peak of the financial crisis of 138,600 in February 2009.”
“Any jump in claims between about 140,000 and 200,000 would be worse than the peak of the great financial crisis, but still at manageable levels. In this case, the cable will likely tremble but remain within range. “
“If the headlines screamed” the worst since the financial crisis “- but not” worse than “- it would be considered a beating, showing that the UK has its labor market under control and will boost the pound.”
“If the British labor market suffers a bigger blow, with more than 200,000 requests, it would already be a heavy blow to the pound sterling and would show that the leave scheme has its limits.”