The Pound opens lower for the second day running

UK unemployment figures released this morning came out as expected with average earnings coming out slightly better. The number of people claiming job seekers allowance also came some 10,000 less than was forecast which is seen as positive from the side of consumer spending and therefore for economic growth. We will see if this is the case tomorrow when the retail sales figures for August are released.

The gain was small though indicating the pound has little strength behind it and with the gains seen at the end of last week trickling away as this week goes on anyone with a Euro requirement in the coming months might want to consider locking in by way of a forward contract. Contact your dealer at Currency Index today to discuss the available options for securing your funds.