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UK unemployment rate dropped to 5.6% in March

FXStreet (Mumbai) - The data released by the UK Office for National Statistics (ONS) on Friday showed the unemployment rate in three months to March dropped to 5.6% as expected from 5.7% in February.

UK claimant count in March fell to 772,400 - lowest since May 1975. The average weekly earnings excluding bonus in three months to February rose 1.8% year-on-year, beating the expectation of a 1.7% rise. Meanwhile, average earnings including bonus printed at 1.7%, a tad lower than the expected rise of 1.8%.

Overall in the first quarter the ONS reported a rise in the Job vacancies in UK economy to record 743,000.

UK Economic strategy praised by IMF Chief – Investec

With maximum focus on the UK general elections, Jonathan Pryor, Head of FX dealing at Investec, notes that IMF chief’s comments praising the UK economic strategy might boost Cameron’s view that the country was on a right path.
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EUR/GBP turns negative on UK data

The pound holds mild gains versus the shared currency in the European session; turning EUR/GBP in red on the 0.72 handle, as sterling gained momentum after UK’s data which showed that jobless rate in the Kingdom fell while wages ticked up slightly in February.
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