FXstreet.com (Barcelona) - UK Unemployment has risen to the highest level in 12 years in march, and Public sector net borrowing reached an all time high on the same month; the Sterling dipped further after data was released.
Jobless claims rose by 73,700 in the UK in March, with the ILO unemployment rate reaching 6.7%, although, expected, this is the 13th consecutive increase in unemployment figures and the total amount of claims, 1.46 million
Is the highest in the last 12 years.
On the other hand, public sector net borrowing has reached an all time high at GBP 19.0 billion in March, as tax revenues continued declining.
GBP/USD, which had already declined around 50 pips ahead of the UK data release, dropping from 1.4610 to 1.4560, has dipped further, half an hour after the data was released, the Pound trades at 1.4520.
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