Pound Benefits From Weaker Dollar And Euro

The pound is up above $1.51 against the dollar and 1.10 against the euro this afternoon following weak jobs and other economic data from the US and the Euro Zone.

In the US an ADP employment report that showed non-farm private employment fell by 693,000 jobs in December, compared to analysts predictions of 450,000.

In Europe, Eurostat revealed that the Euro zone industrial producer price index (PPI) rose 3.3% year-over-year in November, slower than the 6.3% recorded in the previous month. Economists were looking for the rate of 4.4%.

Other data shows that unemployment in Germany rose 18,000 in December, against expectations of a 10,000 increase.

Latest live forex rates can now be found on the righthand side of this blog below futures prices.