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UK Finance Minister Rishi Sunak offers some conciliatory comments following the release of the Kingdom’s labor market report.

Key quotes

“For those who do lose their job, there will be new opportunities through apprenticeships.

“I’ve been honest with people from the start that we would unfortunately not be able to save every job.”

“Protecting jobs is my absolute priority.”

Market reaction

The bearish pressure on the GBP/USD pair is accelerating the European session, as the risk sentiment remains sour, aiding the recovery in the US dollar across its main peers.

The cable currently trades at 1.3030, down 0.26% on the day.