Sterling rebounds from five-week low versus dollar

Economies.com
2018-10-16 16:46PM UTC

Sterling rose in American trade off September 10 lows against the greenback, following earlier data from Britain and the US. 

 

As of 04:36 GMT, GBP/USD rose 0.24% to 1.3183, with an intraday high at 1.3236, and a low at 1.3141. 

 

Earlier UK data showed the unemployment rate for the three months ending August at 4% as expected, while average earnings rose 2.7%, up from 2.6% in the previous reading.

 

UK jobless claims rose to 18.5 thousand, adding to the 14.2K increase in the previous reading, while analysts expected only 4.5 thousand. 

 

Otherwise, earlier US data showed industrial output rose 0.3% in September, slowing down from 0.4%, while the Capacity Utilization Rate stood at 78.1%, same as before and below estimates of 78.2%. 

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