16th August 2012
Sterling has started to make up some of the ground that it has lost against both the Australian and New Zealand dollar recently.
Yesterday's (August 15th) labour data from the UK, which revealed that UK unemployment has fell to its lowest level in a year, managing to offset some of the forex trading damage caused by last week's poor out put forecast.
As a result, the GBP increased by 0.2 per cent against the AUD to stand at 1.4981, while a slight gain of 0.03 per cent on the NZD brought it to 1.9480, reports The Australian Dollar.
The UK employment sector is currently doing great work under pinning the currency and most sector surveys suggest that the majority of British businesses have no plans to make any more redundancies for the rest of the year.
Yet, analysts are not predicting any large currency movements as the there was similar good data in Australia, where age growth data exceeded forecasts to reach 3.7 per cent year on year.
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