Sterling falls after mixed economic data

The British Pound fell against the US dollar on Tuesday, following the release of mixed economic data.

The data showed that the UK's average income index rose 4.8% in February, while analysts forecast a rise by 4.9%.

The Claimant Count Change was at 86.6K during February, worse than forecasts of 9K.

The unemployment rate fell to 5% from 5.1% in January, while analysts forecast 5.2%.

The US Federal Reserve Chairman Jerome Powell said during his testimony before the US Congress that he expects a sharp jump in inflation but will not be persistent, and the US economic recovery is still far from complete.

As of 21:48 GMT, GBP/USD fell by 0.8% to 1.3751, after hitting a high of 1.3866 and a low of 1.3750.