UK Unemployment Rate drops to 4.2% in quarter to June vs. 4.5% expected

• The UK Unemployment Rate unexpectedly fell to 4.2% in three months to June.
• The Claimant Count Change for Britain arrived at 135K in July.
• GBP/USD jumps to test 1.2800 after strong UK employment data.

The United Kingdom’s (UK) ILO Unemployment Rate dropped to 4.2% in the three months to June after recording 4.4% in the previous period, the data published by the Office for National Statistics (ONS) showed on Tuesday. The market expectation was for a 4.5% print.