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Improved Jobs Data Helps UK Pound

January 23, 2013 at 14:23 by Miranda Marquit

Close-up of the UK pound noteUK pound is heading higher today, thanks in large part to better than expected jobs data. Between signs of economic improvement, and good news out of the eurozone, the UK pound is finding some solid support today.

The Office for National Statistics indicates that, in December, the United Kingdom saw a decline of 12,100 in terms of jobless claims. This news came as a surprise, since many economists and analysts had expected an increase of claimants. The news has given the UK pound a kickstart today, helped along by general risk appetite.

Pound is also getting a little help from the general good news in the eurozone. With successful auctions in the eurozone periphery buoying the entire area, there is support for the pound as well.

Recently released minutes show that at the last Bank of England meeting most policymakers voted to keep the asset purchase program steady. Also causing some waves in the United Kingdom right now is Prime Minister David Cameron‘s promise to hold a referendum on EU membership if he is re-elected.

At 14:19 GMT GBP/USD is heading higher, up to 1.5872 from the open at 1.5840. EUR/GBP is lower, moving down to 0.8393 from the open at 0.8411. GBP/JPY is down to 140.5200 from the open at 140.5050.

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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