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Forex - Pound hits 2-week high against dollar ahead of U.K. data

By Investing.comForexFeb 17, 2010 08:53AM GMT Add a Comment
 
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Investing.com - The pound hit a 2-week high against the dollar on Wednesday, ahead of the release of key data on unemployment in Britain and the minutes of a meeting held by a Bank of England committee. 

Forex - Pound hits 2-week high against dollar ahead of U.K. data

GBP/USD hit 1.5816 during early European trade, its highest rate since Feb. 4; Cable subsequently consolidated around the 1.5800 mark. The pair was likely to find resistance at 1.5918, the high of Feb. 4, and support at 1.5535, the low of Feb. 8. 

Sterling also rose against the yen, with GBP/JPY jumping 0.32% to hit 142.82. 

Later Wednesday, Britain's Office of National Statistics was set to publish fresh data on the monthly claimant count, and the Bank of England was due to release the minutes of a meeting held by its Monetary Policy Committee on interest rates.

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