GBP/USD Trading Lower, U.K. Unemployment Steady

GBP/USD is trading at 1.2421, down 0.0047. The U.K. Office for National Statistics (ONS) reported that U.K. unemployment was unchanged at 4.8 percent during the December period. Earnings, excluding bonuses rose by 2.6 percent versus a year ago. The number of people on the claimant count fell by 42,400 in January versus a decline of 20,500 in December. The U.K. Office for National Statistics (ONS) is scheduled to release retail sales data Friday at 4:30 a.m. ET.