Forex: GBP/USD: Pound bounces up to 1.5990 on improving unemployment figures

By @ibtimes on

FXstreet.com (Barcelona) - The Pound, which softened somewhat on early European session, has bounced up on the back of better than expected employment figures, and the pair has returned to levels right below 1.6000.

UK jobless claims have increased by 20,800, to 5.0% of the workforce, instead of the 25,000 increment forecasted by the analysts, to 5.1% of the workforce.

Although the claimant count rate reached 1.63 million in September, 12 year high, the monthly increment, 20,800, has been the lowest since May 2008, In August, the claimant count rate rose by 23,000.

GBP/USD, which was retreating from 1.5990 Asian session high and trading around 1.5935 ahead of the release of unemployment figures, has jumped about 60 pips to reach 1.5995, intra-day high minutes after jobless claims data was released.

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