Sterling remains low against euro despite UK jobs boost

Sterling approached a three-year low against the euro even after Britain’s jobless rate showed signs of resilience following the country’s decision to quit the EU.

While it briefly rallied against the dollar and single currency, investors remained focused on the economic and political risks for the UK’s currency.

Data showed jobless claims fell 8,600 in July, following an increase of 900 in June. Economists had forecast a gain of 9,000 in what were the first official numbers since the Brexit referendum.