Sterling rallies on improved job report

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The British Sterling saw a sharp rally this morning as the UK labor market report was published. Unemployment rate improved to 5.7% against estimates of 5.8% while the claimant count change, which is the number of people claiming unemployment benefits continued to beat estimates falling -38.6k vs. -25.2k. The average earnings index, 3m/y improved to 2.1%, beating estimates of 1.7%, while the previ...

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