FOREX-Pound dips after British jobs data, dollar near five-week top ...Middle East

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FOREX-Pound dips after British jobs data, dollar near five-week top
source : Devdiscourse ( Middle East ) () 63
The pound dropped on Tuesday after a rise in Britain's jobless numbers suggested fewer Bank of England rate increases could be needed in the coming months to bring down inflation, helping the broad dollar index to push back towards Monday's five-week peak. Sterling dropped as much as 0.5% against the dollar to $1.2467 and also softened to 87.17 pence per euro after Britain's unemployment rate unexpectedly rose to 3.9% in the three months to March as more people sought to get back into the jobs market.

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