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According to Reuters, the pound rose by around half a cent against the dollar to $1.5505 following the announcement, which meant the US economy did not create as many jobs last month as people thought, forex traders might be interested to note.
Payrolls were up by 103,000, however economists had previously predicted rises of around 170,000, leaving sterling down by 0.2 per cent against the greenback this morning.
Michael Hewson, analyst at CMC Markets, pointed out some people had been discussing a possible hike of around 200,000 and he noted: "In the event this does happen, then we can expect the U.S. dollar to push higher against the major currency pairs."
Earlier this week, the pound made gains of nearly one per cent against the US currency following a positive announcement for UK manufacturing data, which revealed its quickest growth in around 16 years.
Posted by Greg Secker
