Investing.com - The pound traded just off two-and-a-half week
lows after U.K. trade data disappointed while U.S. jobs numbers
In U.S. trading on Friday, GBP/USD was trading at 1.5356, down
0.61%, up from a session low of 1.5314 and off from a high of
The pair was likely to find support at 1.5197, the low from April
23, and resistance at 1.5592, Wednesday's high.
In the U.K. earlier, official data revealed the trade deficit
narrowed less than expected in March, coming in at GBP9.1 billion
from a of GBP9.2 billion deficit the previous month.
Analysts were expecting the trade deficit to narrow to GBP9.0
billion in March.
The number sent Cable falling as did better-than-expected jobless
claims that hit the wire in the U.S. on Thursday.
The Department of Labor reported Thursday that the number of
individuals filing for initial jobless claims in the U.S. last week
fell by 4,000 to 323,000, defying expectations for an increase of
8,000 to 335,000.
The news sparked demand for the dollar by fueling sentiments the
Federal Reserve may be closer to winding down stimulus programs.
Stimulus tools, such as the Fed's monthly USD85 billion bond-buying
program, weaken the greenback to spur recovery.
Earlier this week, the Bank of England left interest rates
unchanged at a record low 0.5% and maintained the size of its asset
purchase program at GBP375 billion.
The pound, meanwhile, was down against the euro and up against the
yen, with EUR/GBP trading up 0.18% at 0.8458 and GBP/JPY up 0.39%
offers an extensive set of professional tools for the Forex,
Commodities, Futures and the Stock Market including real-time data
streaming, a comprehensive economic calendar, as well as financial
news and technical & fundamental analysis by in-house experts.
Read more News on Investing.com or Follow us on Twitter at @