Pound Rises As U.K. Jobless Rate Falls
April 17 2015 - 4:57AM
RTTF2
The British pound strengthened against the other major
currencies in the European session on Friday, after data showed
that the U.K. unemployment rate fell to the lowest since 2008.
Data from the Office for National Statistics showed that the ILO
jobless rate came in at 5.6 percent in three months to February,
down from 5.8 percent in September to November. The rate came in
line with expectations.
There were 1.84 million unemployed people, down by 76,000 from
September to November period.
The pound rose to more than a 4-week high of 1.5008 against the
U.S. dollar and an 8-day high of 178.39 against the yen, from early
lows of 1.4915 and 177.43, respectively.
Pulling away from an early near 2-week low of 1.4264 against the
Swiss franc, the pound climbed to 1.4320.
Against the euro, the pound edged up to 0.7195 from an early low
of 0.7219.
If the pound extends its uptrend, it is likely to find
resistance around 1.52 against the greenback, 180.50 against the
yen, 1.47 against the franc and 0.70 against the euro.
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