Unemployment data slightly better than expected for U.K - Minor strength against USD EUR CHF CAD - still losses against AUD JPY and ZAR

Unemployment data released this morning was ever so slightly better than expected leading to minor Sterling strength against most major currencies.

Although it was actually better than expected the figures are still pretty poor.

The Pound has still lost ground against the AUD, JPY and ZAR which may be down to carry trading - this is where investors borrow money from a currency with a lower interest rate then invest it into one with a much higher interest rate - making money on the difference.

This was a major factor in market movements last year and it appears investors have started to do it again.

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