Pound Falls vs. Euro on Jobless Claims

The Great Britain pound dropped against the euro today as the government report showed that the unemployment claims increased in June, instead of decreasing as was predicted by analysts. The currency gained versus the dollar.
The number of people seeking unemployment benefits rose by 24,500 in June from May, while market forecast change by only 15,100. The change from April to May was revised upwardly from 19,600 to 21,500. The unemployment rate was at 7.7 percent.

EUR/GBP climbed from 0.8780 to 0.8815 as of 11:12 GMT today. GBP/USD traded at 1.5947 after it advanced from 1.5910 to 1.5987.

If you have any questions, comments or opinions regarding the Great Britain Pound, feel free to post them using the commentary form below.