11.07.201404:23:03UTC+00Pound plunges on optimistic US jobless claims data

The British pound plummeted against the US dollar Thursday following data unveiled fewer individuals sought first-time jobless benefits in the United States last weeks than markets expected.

Sterling fell 0.22% to £1.7121. The currency also slid versus the euro, up 0.08% to €0.7950 and dropped against the Japanese yen at 0.34% to ¥173.87.

Earlier, the US Labor Department reported the number of individuals filing for initial jobless benefits in the week through July 5 decreased by 11,000 to 304,000.

The Bank of England retained its rates at 0.5% and maintained its asset purchase program at £375 billion.

The pound weakened against the greenback after the Office for National Statistics reported the UK trade deficit widened to £9.2 billion in May, previously £8.81 billion.