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UK: Claimant Count Change decline slows down in February

FXstreet.com (Barcelona) - The number of unemployment people in the UK fell by 1.5K in the three months to February, following a 10K drop registered in the three months to January, National Statistics reported on Wednesday. This result is more positive than the expected 5K decrease. The Claimant Count Rate remained at 4.7%,for the second running month, as projected.

The ILO Unemployment Rate remained at 7.8% in February, according to market consensus. Average Earnings excluding Bonus rose 1.2% in the three months to January, following a +1.3% reading in the three months to December and below expectations of growing 1.5%. Average Earnings including Bonus increased 1.2%, in comparison with 1.3% growth and below projections of +1.5%.

Forex: EUR/GBP erases gains on BoE minutes

The EUR/GBP rose during the London session to test 0.8580 ahead of the UK data and BoE March meeting minutes. MPC members made the same 6-3 vote against further QE of February meeting and recent data has not altered economic outlook but inflation looks a little higher. The EUR/GBP plunged back to the opening price of 0.8534, as of writing.
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Forex: GBP/USD testing Tuesday’s highs around 1.5140

The sterling is now quickly appreciating against the greenback after the BoE minutes showed that 6-3 MPC members still favoured to keep the asset purchase programme unchanged at £375 billion. Governor....
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