Currency exchange improvement for sterling

The currency exchange rate for sterling improved towards the end of yesterday (September 15th), it has been revealed.

Earlier in the day the publication of the Office for National Statistics' employment figures has resulted in the pound falling broadly on the markets.

However, analysts' focus shifted towards the end of the day away from the increase in the number of Jobseeker's Allowance claimants and towards the slight increase in the number of people in employment.

David Tinsley, UK economist at nabCapital, told Reuters: "The data was mixed. The claimant count was much higher than expected but there was an improvement in the number of jobs.

"That's why sterling has recovered from those early losses."

Despite the slight upturn, sterling remained weak this morning, trading against the US dollar at $1.56 at 08:30 BST.

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Posted by Eleanor Ward