The British pound moved lower vis-Ã -vis the U.S. dollar today as cable tested bids around the US$ 1.3840 level and was capped around the $1.4070 level. Data released in the U.K. today saw unemployment move above the two million level for the first time in nearly twelve years with the claimant count jumping 138,400 in February and the unemployment rate higher at 6.5%. Bank of England Governor King yesterday reported the central bank will decide when and how to reverse its asset purchases and normalize interest rates when inflation conditions allow same. King also said the upcoming Group of Twenty meeting needs to drive home the message that macroeconomic stimulus is needed. Cable bids are cited around the US$ 1.3720 level. The euro moved higher vis-Ã -vis the British pound as the single currency tested offers around the ‚¤0.9415 level and was supported around the ‚¤0.9255 level.
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