U.K. unemployment falls towards BOE threshold.

U.K. unemployment has dropped ever closer to the Bank of England's 7% threshold for raising interest rates, falling to 7.1% in the three months to November from 7.4% previously. However, the BOE is pulling a Fed: the U.K. central bank said it sees no immediate need to raise interest rates if the threshold is reached. The pound spiked after the jobless rate was released and was +0.35% at $1.6534 at the time of writing.