A stronger-than-forecast jobs report from the second quarter in the U.K. pushed up the English pound on Wednesday against the world's reserve currency and the common currency of the European Union as the data indicated the regional economy is growing stronger, Bloomberg reports.
The pound advanced to its seven-month peak against the greenback and its eight-month high against the euro. Checking in at 7.7 percent during the April-to-June period, the unemployment rate moved closer to the level at which governor Mark Carney with the Bank of England said interest rates might be subject to changes. Bonds issued by the U.K. government were minimally changed during the Wednesday trade session.
The monetary unit's advance against both the greenback and the 17-nation currency was about 0.4 percent.
Previously at 7.8 percent, the jobless level fell to its lowest level since the end of 2012, according to Reuters.
Unemployment benefit claims dropped by 32,600 last month, Reuters reports. That serves as yet another indication of the stabilizing economy and it exceeded Reuters-polled survey results of economists, which indicated the drop would amount to 22,000 from the month prior.
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