GBP/USD ended Friday’s session down 0.15% to 1.6713. Earlier Friday, the pair rose to highs of 1.6786, not far from the more than four-year high of 1.6821 struck on February 17. Cable was likely to find support at 1.6655, Wednesday’s low and resistance at 1.6821. The U.S. economy added 175,000 jobs in February, the Labor Department reported, well above expectations for 149,000 new jobs. The unemployment rate ticked up to 6.7% from 6.6% in January, as more people joined the workforce. The jobs report eased concerns over soft U.S. employment and other economic data seen in the past few months. The strong figure indicated that the Federal Reserve is likely to continue to scale back its stimulus program, which has weighed on the value of the dollar. Demand for sterling continued to be underpinned after business
Posted on: Mon, 10 Mar 2014 13:48:21 +0000
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