Mitsubishi UFJ: The pound performed poorly after the release of weak employment data.

Derek Halpenny of Mitsubishi UFJ Financial Group stated in a report that the British pound has become the worst-performing currency among G10 currencies after the weak employment data was released in the UK, and this poor performance may continue unless Wednesday's UK inflation data exceeds expectations. Data released on Tuesday showed that the unemployment rate unexpectedly rose to 5.2% in the three months to December, while wage growth slowed down. Halpenny said that this should give Bank of England Governor Andrew Bailey more confidence to cut interest rates as a key swing voter. He mentioned that if inflation data in January slows down as expected, this will provide a rationale for a rate cut in March and continue to put pressure on the pound. Data from the London Stock Exchange Group showed that the pound fell to an 11-day low of $1.3549. The euro rose to a one-week high of 0.8730.