European Session – Sterling weak after UK unemployment rises
Posted on February 19, 2014 at 2:18 pm GMTThe dominant theme during the European session was sterling weakness as the currency was hit by an unexpected drop in the UK unemployment rate. The official ILO headline unemployment figure edged up to 7.2% in the October- December period from a previous reading of 7.1%. The reading was forecast to remain unchanged. Meanwhile, the claimant count, which is the number of people claiming unemployment benefits, fell by more than expected in January by 27,600, as economists expected a decline of [..]