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TDUX
Oct 20 - 02:55 AM
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GBP/USD - Rises As UK Jobless Rate Unexpectedly Falls

By Robert Howard  —  Oct 20 - 02:23 AM

• Cable rises to 1.3352 as pound strengthens on UK jobless rate fall

• 4.7% vs 4.9% previously. An increase to 5.0% was expected

• Ex-bonus pay growth 3.7% vs 3.6% f/c. 1.3352 is high since Friday

• 1.3306-1.3335 was Asia range (pre-UK data). 1.3300 was Monday low

• Resistance levels include 1.3371 (Friday's three-week peak) and 1.34

• UK data underpins expectation for BoE rate hike to 4% on Nov 5

GBPUSD


(Robert Howard is a Reuters market analyst. The views expressed are his own)

Source:
London Stock Exchange Group | Thomson Reuters

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