Sterling rises on surprise fall in UK claimant count

LONDON: Sterling rose against the dollar and the euro on Wednesday after data showed the number of people claiming umemployment benefit fell in February, versus expectations for an increase.

Sterling rose around 30 pips to $1.6110 before easing to $1.6100, up around 0.2 percent on the day. The euro fell around 17 pips to a session low of 86.61 pence.

The Office for National Statistics said the number of people claiming jobless benefit fell by 10,200 last month, its biggest monthly drop since June.