Market News
Sterling trapped in range as investors monitor Middle East tensions - REUTERS
By Stefano Rebaudo
April 21 (Reuters) - The pound dipped on Tuesday, remaining within a recent range as investors monitored Middle East developments that could spark a fresh rush to the safe-haven dollar.
British data showed the jobless rate fell unexpectedly, although that drop reflected rising numbers of students not looking for work rather than rising employment, while average weekly earnings fell.
Analysts argued that sterling didn’t rise because the big drop in the February unemployment rate probably overstated the health of the British labour market.
Under pressure from political opponents to step down, British Prime Minister Keir Starmer on Monday laid the blame on foreign ministry officials over the appointment of a U.S. ambassador, saying they had kept him in the dark.
