GBP Fluctuates After Jobless Claims Climb

The Great Britain pound fluctuated versus the US dollar today after a report showed that jobless claims rose last month more than was predicted. The currency was falling throughout the first half of the trading session, then rebounded and now fluctuates in a wide range.

Claims for unemployment benefits rose by 7,200 jobs in February, following the 7,000 increase in January. That was the 12th consecutive increase. The median forecast was a growth by 6,500 jobs. Unemployment rate remained stable at 8.4 percent.

GBP/USD traded at 1.5700 as of 12:09 GMT after opening at 1.5706. The daily maximum was 1.5743 and the minimum was 1.5648.