GBP/USD at 1.6660 after U.K. Unemployment Rises

The U.K. unemployment rate rose in the three months to December, bringing to a halt the recent sharp declines in the country’s jobless figures. .

The unemployment rate edged up to 7.2 percent compared with 7.1 percent in the three months to November, according to the Office for National Statistics. The number was higher than a forecast of 7.1 percent in a Reuters poll, although the ONS said the number of people claiming jobless benefits fell by 27,600 in January.

Indeed, an unemployment rate of 7.2 percent is still down 0.4 percentage points compared to the July to September 2013 period.  Investors are not as concerned with the unemployment rate in the U.K. since the revision of the Bank of England’s (BoE) forward guidance.

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