The pound was lower against the broadly stronger dollar on Wednesday, shrugging off a solid U.K. jobs report as investors’ reassessed prospects that the Federal Reserve would soon raise interest rates.The Office for National Statistics reported that the claimant count, which measures the number of people receiving unemployment benefit, fell by 2,400 in April, against expectations for an increase of 4,300.March’s claimant count was revised up to 14,700, the biggest monthly increase since September 2011. The U.K. unemployment rate remained stable at 5.1%, in line with economists’ forecasts.The number of people in work rose by 44,000, bringing the employment rate to a record high of 74.2%.
RECOMMENDATION :
BUY GBP/USD ABOVE 1.4530 TGT 1.4550 1.4580 SL 1.4500
SELL GBP/USD AROUND 1.4520-1.4518 TGT 1.4500 1.4470 SL 1.4550
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