The volatile British pound is higher late Wednesday morning after the release of some unexpectedly robust domestic jobs data while the dollar has ceded ground against a number of more risk-sensitive currencies.
The pound was propelled higher after the U.K. government reported that the number of people claiming unemployment benefits fell 32,200 last month, the largest drop since November 1997.
The pound reached a daily high of $1.5381, its highest level since Feb. 25, according to EBS via CQG, before relinquishing some of its gains.
The dollar was higher against its main rivals, the yen and the euro. The euro rallied in earlier trading and then retreated as buying interest ebbed at the top end of the common currency’s recent trading range.
The euro is extending its incline against the federal currency as the EU finance ministers said they will provide emergency loans to Greece to help them narrow their budget deficit, details of the plan were not provided.