(RTTNews) - Amid the releases of the Bank of England's January meeting minutes and the U.K. labor market report for December at 4:30 am ET Wednesday, the pound recouped some its recent losses against other major currencies.
The pound thus recovered from a 2-day low against the dollar and the yen. However, the pound soared to near its early Asian session's new multi-month high against the euro and a new multi-week high against the franc.
The Bank of England's policy makers unanimously decided to continue with the asset purchase programme totaling GBP 200 billion using central bank reserves, the minutes of the meeting showed. The meeting was held on January 6 and 7. All nine policymakers stood united in holding the Bank Rate at 0.5%.
The number of people claiming Jobseeker's Allowance in the UK fell by 15,200 month-on-month to reach 1.61 million in December, the Office for National Statistics said. That was the second consecutive monthly fall in the claimant count and the largest monthly fall since April 2007. Economists had forecast 4600 fall.
Currently, the pound is worth 1.6306 against the dollar and 148.21 against the yen, up from 2-day lows of 1.6255 and 147.61, hit respectively at 3:00 am ET.
The pound that fell to 0.87350 against the euro at 4:15 am ET Wednesday gained ground thereafter. As of now, the pound is worth 0.870 per euro, compared to an early Asian session's new multi-month high of 0.8696.
Against the Swiss franc, the pound is presently trading at 1.6960, advanced from 1.6895 hit at 4:15 am ET. In early Asian deals today, the pound-franc pair reached a new multi-week high of 1.6969.
Traders are now likely to focus on the New York session, in which the U.S., PPI, housing starts and building permits- all for the month of December has been slated for release.
