GBP/USD bounces off daily low post-UK jobs data, remains below 1.2200 amid strong USD – by hareshmenghani GBPUSD Employment BOE Fed Currencies
ge during the early European session on Tuesday. Spot prices, meanwhile, remain below the 1.2200 mark, or a one-month high touched on Monday.
The UK Office for National Statistics reported that the number of people claiming unemployment-related benefits fell by 11.2K in February as compared to the 12.4 decline anticipated. Adding to this, the previous month's reading was also revised to a fall of 30.3K in the Claimant Count Change from 12.9 estimated originally. Furthermore, the jobless rate held steady at 3.7% during the three months to January against expectations for a modest uptick to 3.8%.
Traders might also prefer to wait on the sidelines and await the release of the crucial US CPI report, due later during the early North American session. This week's US economic docket also features the
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