The pound fell against the U.S. dollar on Wednesday, re-approaching
18-month lows despite upbeat U.K. jobs data as the minutes of the Bank
of England's latest meeting minutes showed a new consensus in favor of
keeping interest rates on hold.
GBP/USD hit 1.5076 during European morning trade, the session low; the pair subsequently consolidated at 1.5106, shedding 0.25%.
Cable was likely to find support at 1.5032, the low of January 8 and an 18-month trough and resistance at 1.5236, the high of January 16.
In a report, the U.K. Office for National Statistics said that the rate of unemployment dipped to 5.8% in the three months to November from 6.0% in the previous three month-period and better than expectations for a reading of 5.9%.
The report also showed that the claimant count fell by 29,700 last month, compared to expectations for a decline of 25,000 people. November’s figure was revised to a drop of 29,600 people from a previously reported decline of 26,900.
Read more Click Here / www.trade4x.net
GBP/USD hit 1.5076 during European morning trade, the session low; the pair subsequently consolidated at 1.5106, shedding 0.25%.
Cable was likely to find support at 1.5032, the low of January 8 and an 18-month trough and resistance at 1.5236, the high of January 16.
In a report, the U.K. Office for National Statistics said that the rate of unemployment dipped to 5.8% in the three months to November from 6.0% in the previous three month-period and better than expectations for a reading of 5.9%.
The report also showed that the claimant count fell by 29,700 last month, compared to expectations for a decline of 25,000 people. November’s figure was revised to a drop of 29,600 people from a previously reported decline of 26,900.
Read more Click Here / www.trade4x.net
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