FXstreet.com (Barcelona) - The Sterling (GBP) came under heavy selling pressure early in the European session breaking below 1.4000 as UK data continued to disappoint. February Claimant count change jumped to 134K vs. 84.5K.

Easy Forex Team said: MPC minutes showed 9-0 vote to cut although concern about setting rates too low could mean further cuts are unlikely.

The FOMC trumped all other considerations and Cable surged to 1.43. Overall the GBP/USD traded with a low of 1.3847 and a high of 1.4337 before closing the day at 1.4290 in the New York session.