Pound falls vs dollar after U.S. data

DATE: 06 Nov 2009
A pile of one pound coins is seen in central London June 17, 2008. REUTERS/Toby Melville

Sterling fell more than half a cent against the dollar on Friday after a bigger-than-expected fall in U.S. employment raised concerns about the extent of the recovery in the world's largest economy.

The data showed U.S. employers cut a deeper-than-expected 190,000 jobs in October, driving the unemployment rate to 10.2 percent, the highest in 26-1/2 years.

Analysts polled by Reuters had expected payrolls to drop by 175,000 and the jobless rate to edge up to 9.9 percent from 9.8 percent in September.

Following the data, sterling fell to a session low of $1.6636 from around $1.6580 beforehand, as the weaker data encouraged investors to trim exposure to perceived riskier currencies against the safe haven dollar.

(Reporting by Jessica Mortimer)

LONDON (Reuters)

STORY TOOLS

Exec Digital Channels
Exec Digital Cars
Exec Digital Money
Exec Digital Dating
Exec Digital Job Finder
Exec Digital Travel
Exec Digital Shopping
Exec Digital Publications
Exec Digital Directory
Exec Digital Spotlight
Frederic Langlois, CEO of Rail Europe

Q&A: Frederic Langlois, CEO of Rail Europe

Exec Digital talks to Frederic Langlois, the CEO of Rail Europe

Q&A: Chester Brandes, President and CEO of Imperial Brands

Exec Digital quizzes Chester Brandes, President and CEO of Imperial Brands more...

Q&A: Paul McIllhenny, President & CEO of McIllhenny Company

Paul McIllhenny, President & CEO of McIllhenny Company, talks to Gabe Perna more...
Business & Lifestyle for Executives   
Exec Digital
Read the latest Company Profiles
Exec Digital Newsletters Sign Up Now
Select your territory Arrow
Exec Digital UK RSS Feed