The Great Britain pound rose today against the US dollar after UK employment data continued to show an improvement of the labor market in the United Kingdom. The sterling fell versus the Japanese yen for the second session.
The number of people seeking unemployment benefits fell by 27,400 in May from the previous month, reaching the lowest level since October 2008. The unemployment rate fell from 6.8 percent in 6.6 percent in April. Both readings were better than analysts anticipated. The positive data suggests that the Bank of England may start raising interest rate sooner, perhaps even this year.
GBP/USD was up from 1.6756 to 1.6788 as of 15:10 GMT today. Meanwhile, GBP/JPY went down from 171.49 to 171.13.
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