Very positive employment report from the United Kingdom propelled the Great Britain pound higher. The currency demonstrated big gains, rising to the highest level in more than month and a half against the US dollar and the highest more than seven years versus the euro.
The Office for National statistics reported that unemployment claims fell 38,600 in January from December, more than economists anticipated. Average weekly earnings grew 2.1 percent in the fourth quarter of 2014 from the same period a year ago, also beating expectations. The Bank of England monetary policy minutes showed that all the voting members voted for keeping monetary policy unchanged.
GBP/USD climbed from 1.5349 to 1.5430 as of 17:20 GMT today, reaching the high of 1.5455 — the strongest rate since January 2. EUR/GBP sink from 0.7431 to 0.7350, trading close to the lowest level since December 2007.
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