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Decreasing Jobless Claims May Boost Pound

April 21, 2010 at 12:28 by Vladimir Vyun

Great Britain poundThe Great Britain pound advanced today against the other major currencies and may continue its rise further as the report showed that the number of the jobless benefits claimed is dwindling.

The number of the unemployment claims decreased in March by 10,000 from the previous month, when it fell by 32,300. The pound was bolstered by the government report that the inflation grows with greater than predicted pace. The higher than expected earnings of the Apple Inc. and the Elpida Memory Inc. boosted the stocks, damping the demand for the safer currencies and adding to the sterling’s strength.

EUR/GBP dropped to 0.8704 as of 10:23 GMT today from its opening price of 0.8745. GBP/JPY rose to about 143.83 from its opening level of 143.14

If you have any questions, comments, or opinions regarding the Great Britain Pound, feel free to post them using the commentary form below.

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