Bloomberg News

Pound Falls Versus Dollar, Euro, After BOE Minutes, Jobless Data

June 20, 2012

The pound weakened against the dollar and euro after minutes of the Bank of England’s June meeting showed Governor Mervyn King and three other policy makers were overruled in a push to expand the bank’s bond- purchase program.

Sterling dropped 0.2 percent to $1.5694 at 9:36 a.m. London time. It also declined 0.2 percent to 80.84 pence per euro.

A seperate report showed U.K. jobless-benefit claims unexpectedly rose in May. Jobless-benefit claims climbed 8,100 from April while the median forecast of 20 economists in a Bloomberg News survey was for a drop of 4,000.

To contact the reporter on this story: Lucy Meakin in London at lmeakin1@bloomberg.net

To contact the editor responsible for this story: Daniel Tilles at dtilles@bloomberg.net


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