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August 10, 2026
British Pound traded at 1.3526 against USD at 9:00 AM PST
The United Kingdom permanent staff appointments stabilized and pay trends improved in July. Permanent staff appointments stabilized in July, ending a 45-month downturn. Demand for permanent staff remained subdued amid political and economic uncertainty and higher labor costs. Meanwhile, temp billing posted the biggest growth in the last three years as more employers sought flexible workforce solutions.
A fresh increase in demand for temporary workers, and permanent vacancies dropped at a slower pace in July. As a result, overall demand for workers fell at the softest pace in 22 months. Pay growth improved in July. Starting salary inflation reached its highest in six months and temp wage growth hit a 26-month high. Nonetheless, the upturn in starting salaries remained slower than the long-run trend amid a steep increase in candidate availability.
The availability of candidates continued to rise in July, stretching the current period of increase to nearly three-and -a-half years. That said, the rate of expansion fell to the lowest since February. 08/10/2026 - 03:55:00 (RTTNews)
This market update is prepared by Cathay Bank for informational purposes only and does not constitute any form of legal, tax or investment advice, nor should it be considered an assurance or guarantee of future exchange rate movements or trends. This information is provided without regard to the specific objectives, financial situations or needs of any recipient. Cathay Bank does not make any representations or warranties about the accuracy, completeness or adequacy of this market update.
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