Pound Up, Dollar Down

The pound is up to it's best levels in almost three weeks against the dollar this morning, hitting 1.5360 against the greenback.

Sterling pushed higher against the euro too, hitting 1.1144, it's best since the first day of the month, after UK unemployment data came in much better than expected. Unemployment claims fell by the biggest amount since November 1997 last month data revealed. Claims fell by over 32,000 against expectations of an increase of 6,000.

Support also came from the release of the minutes from this month's BoE MPC meeting, which showed that the vote to leave rates on hold and not increase QE was passed unanimously.

The dollar is also weaker across the board today, after the Fed last night said that US interest rates would stay "exceptionally low" for an "extended period" of time.