Investing.com – The pound extended gains against the U.S. dollar on Thursday, surging to a fresh 7-day high after the release of official data showing that the number of people who filed for unemployment assistance in the U.S. last week fell unexpectedly.
GBP/USD hit 1.5939 during European afternoon trade, the pair’s highest since October 19; the pair subsequently consolidated at 1.5922, jumping 0.96%.
Cable was likely to find support at 1.5650, the low of October 22 and resistance at 1.6002, the high of October 18.
Earlier in the day, the U.S. Department of Labor said the number of individuals filing for initial jobless benefits in the week ending October 23 fell to a seasonally adjusted 434K, after falling to a revised 455K in the preceding week.
Analysts had expected initial jobless claims to remain unchanged at 455K in the week ending October 23.
The pound was also up against the euro, with EUR/GBP shedding 0.16% to hit 0.8716.
Earlier in the day, industry data showed that U.K. retail sales fell more-than-expected in October. Separately, U.K. mortgage lender Nationwide said that its house price index fell more-than-expected in October.
GBP/USD hit 1.5939 during European afternoon trade, the pair’s highest since October 19; the pair subsequently consolidated at 1.5922, jumping 0.96%.
Cable was likely to find support at 1.5650, the low of October 22 and resistance at 1.6002, the high of October 18.
Earlier in the day, the U.S. Department of Labor said the number of individuals filing for initial jobless benefits in the week ending October 23 fell to a seasonally adjusted 434K, after falling to a revised 455K in the preceding week.
Analysts had expected initial jobless claims to remain unchanged at 455K in the week ending October 23.
The pound was also up against the euro, with EUR/GBP shedding 0.16% to hit 0.8716.
Earlier in the day, industry data showed that U.K. retail sales fell more-than-expected in October. Separately, U.K. mortgage lender Nationwide said that its house price index fell more-than-expected in October.