UK jobless claims much higher than expected. Cable lower

UK jobless claims for February have come in much worse than expected, rising by 138,400 the biggest amount on record. This is way higher than the median forecast, which had been looking for a rise of some 84,800. To rub salt into the wounds, Januarys jobless claims were revised up to 93,500 from the initial 73,800. The unemployment rate rose to 6.5%, as generally expected.

Cable has taken it on the chin, triggering aforementioned sell stops at 1.3890 and hitting a post release low around 1.3850.