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The pound reached $1.5862 - moving away from the one-week low experienced yesterday - as the US Federal Reserve verified expectations about further quantitative easing, Reuters reports.
Minutes from the organisation's September 21st meeting reinforced these anticipations for more QE to be implemented next month and the notes inspired higher-yielding currencies and riskier assets.
In addition, there were mixed results from UK labour market figures, which did not have much of an effect on the exchanges.
Global Insight economist Howard Archer said if people do a bit of digging "there are signs that the labour market is coming under increasing pressure from slowing growth and companies' mounting concerns over the economic outlook".
This comes after the pound decreased against the dollar yesterday morning when it fell by around 0.4 per cent at $1.5800.
Posted by Greg Secker
