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Forex - GBP/USD up during the U.S. session

Published 06/02/2011, 03:45 PM
Updated 06/02/2011, 03:45 PM

Investing.com - The British Pound was higher against the U.S. Dollar on Thursday after the release of U.S. data on Initial Jobless Claims.

GBP/USD was trading at 1.6360, up 0.16% at time of writing.

The pair was likely to find support at 1.6306, today’s low, and resistance at 1.6547, Tuesday’s high.

Earlier in the day, official data showed that U.S. Initial Jobless Claims fell less-than-expected to a seasonally adjusted 422K last week from 428K in the preceding week whose figure was revised up from 424K.

Analysts had expected Initial Jobless Claims to fall to 420K last week.

Meanwhile, the British Pound was down against the Euro and up against the Japanese Yen, with EUR/GBP gaining 0.92% to hit 0.8853 and GBP/JPY rising 0.08% to hit 132.35.

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