Pound rebounds against the dollar after BoE meeting

The pound capped its losses against the US dollar on Wednesday, after the Bank of England (BoE) released its meeting minutes and unemployment data.

The minutes included the decision of a majority of members to keep the easing policy unchanged, both in terms of the asset purchase program or interest rates.

The number of people in the U.K. claiming unemployment benefits fell by 26,900 in November compared to the expectations, supporting the pound.

The unemployment rate for November held steady at 6.0% in the three months to October.

The average earnings, excluding bonuses, rose by 1.4% supporting the pound to rebound against the dollar.

Meanwhile, investors remained cautious ahead of the Federal Reserve`s policy statement due later in the day, which will determine the direction of markets and the dollar.

GBP/USD pair rebounded from its lowest level recorded today 1.5622, and traded around 1.5720 at 10:00 GMT.