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Pound Holds Ground At $1.25 Levels; GBPINR Spikes In Immediate Reaction To UK Jobs Data

Published on Sep 12, 2023 11:49

UK pound is holding near $1.25 levels, lingering around a three month low on Tuesday, with little reaction from Britain jobs report. United Kingdom`s (UK) ILO Unemployment Rate climbed to 4.3% in the quarter through July, in line with expectations and from the 4.2% growth seen during the three months to June, according to the official data published by the Office for National Statistics (ONS) on Tuesday. The number of people claiming jobless benefits rose by 0.9K in July, as against the previous month`s 29K. GBPUSD pair is holding around $1.2519 levels, up 0.17% on the day. Meanwhile, a mild correction in the DXY from six-month high is also keeping the currency supported. Currently, the dollar index that measures the greenback against a basket of currencies is steadying near 104.50 levels ahead of US inflation data. On the NSE, GBPINR stayed choppy during opening trades on Tuesday but spiked into positive terrain in immediate reaction to the data and is currently quoting at 103.95, up marginally on the day.

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