Friday, 4 December 2009

Dollar and Sterling strength following unemployment data - Euro loses ground

The Dollar and Sterling have had a fine day on the markets following a flurry of key unemployment data released at lunchtime today.

The unemployment data came out better than expected and off the back of this the Dollar has rallied accordingly alongside Sterling also gaining strength due to people now moving funds into sterling.

A well known saying on the currency markets is that 'when America sneezes the U.K catches a cold' so our economy tends to follow shortly behind theirs and as they appear to be moving int the right direction following these results it gives investors a bit more confidence in the Pound again.


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Have a great day and thanks for reading!

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