The number of people receiving unemployment benefits dropped 32,300 from January to 1.59 million, the Office for National Statistics said today in London. The median forecast in a Bloomberg News survey of 29 economists was for an increase of 6,000. The pound jumped 0.7 percent against the dollar after the report.
Didn't we hear just a couple weeks ago that the euro was going to hell in a handbasket, and that the pound was next?
How is that trade working out?
And with oil at $82--doesn't that help Russia and the Arab countries--subsidized by the American consumer who is shopping even with gas at $3?
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