GBP/USD: Trading the Change in U.K. Jobless Claims

The U.K. labor market is widely anticipated to weaken throughout the second half of the year as economists forecast jobless claims to rise 25.0K in August, and fears of a slower recovery may weigh on the exchange rate as the Bank of England anticipates the annual rate of unemployment to push higher even after the economy emerges from the worst recession since the post-war period.