Sterling Leaps After Upbeat Data

The Great Britain pound leaped today after the fairly upbeat employment data from the United Kingdom. The sterling reached the strongest level since May 15 against the US dollar and the highest since September 2008 versus the Japanese yen.
Average weekly earnings rose 2.7 percent in February through April compared to the same period a year ago, exceeding the analysts’ projection of 2.5 percent growth. Unemployment claims fell 6,500 in May from April, though it was the smallest monthly drop since February 2013 and it was about two times smaller than the predicted decrease. Meanwhile, the Bank of England minutes showed that the decision to keep monetary policy unchanged in June was unanimous.
GBP/USD climbed from 1.5646 to 1.5743, and GBP/JPY surged 1 percent from 193.00 to 195.01 as of 9:55 GMT today.

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