The lowest U.K. unemployment in years had sterling poised for a near 3% advance on the week, its best in 5 ½ years. Britain's jobless rate ticked down to 5.6% in the three months to February, the lowest since July 2008, from 5.7%. A gauge of wage growth firmed to a still subdued 1.8% from 1.6%.
The jobs data served as a reminder of Britain's otherwise solid economic fundamentals. Still, sterling faces daunting downside risk amid the uncertain prospects for Britain's general election on May 7.
Driving the pound in the coming week will be Bank of England minutes on April 22 and retail sales the day after.
