Bloomberg News

Pound Extends Gain Versus Dollar as U.S. Payrolls Stay Unchanged

September 02, 2011

Sept. 2 (Bloomberg) -- The U.K. pound extended gains versus the dollar after data showed U.S. payrolls remained unchanged in August, falling short of economist estimates.

Sterling surged 0.4 percent to $1.6246 after the data was released, before settling 0.3 percent stronger at $1.6230.

Payrolls were unchanged last month, the weakest reading since September 2010, after an 85,000 gain in July that was less than initially estimated, Labor Department data showed today in Washington. The median forecast in a Bloomberg News survey called for a rise of 65,000. The jobless rate held at 9.1 percent.

To contact the editor responsible for this story: Mark McCord at mmccord2@bloomberg.net


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