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Better-than-expected job market results contributed to the Forex trend, as the US currency remained soft and pushed the pound higher, reported Reuters.
The number of people claiming jobless benefits dropped beyond predictions last month, yet Forex trader expert Howard Archer of Global Insight maintained: "Unemployment may continue to fall in the near term, but there is a very real danger it will start to head back up later this year and then increase in 2011."
British stock market performance declined slightly this morning for the first time in six days, as worries over bank stress testing meant financial groups were among the biggest fallers.
However, this did not seem to trouble Forex speculators, who saw the pound gaining 0.5 per cent in value, trading at $1.5255 at 10:20 BST.
Posted by Greg Secker
