The pound edged lower against the dollar on Wednesday after the latest U.K. jobs report showed that wage growth slowed in the last three months of 2015, underlining expectations that interest rates will remain on hold for longer. GBP/USD slid from around 1.4289 ahead of the data to an intra-day low of 1.4265. The Office for National Statistics said the unemployment rate remained unchanged at 5.1% in the three months to December,matching the three months to November which was the lowest since mid-2005.Economists had expected the jobless rate to tick down to 5.0%. Annual wage growth, including bonuses, rose 1.9% in the three months to December, matching forecasts, but slowing from 2.1% in the three months to November. The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was last at 96.93.
RECOMMENDATION :
BUY GBP/USD ABOVE 1.4340 TARGET 1.4360 1.4390 SL 1.4310
SELL GBP/USD BELOW 1.4270 TARGET 1.4250 1.4220 SL 1.4300
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