Comments: 

Today we have the unemployment figures from the US. A day early as tomorrow will be a day off in the US for Independence Day. It could be a strange day for the US$ as better than expected figures could well mean we see the US$ fall as risk appetite increases. The opposite with worse than expected figures could see the US$ gain value given its safe haven status. In the last week or so we have seen the release of purchasing managers index from around the world and on the whole these have been positive which seems to indicate that the worst is behind us. Hopefully this is correct although I think the belief that we will see a rapid recovery is only shared by a few. The majority believe it is going to be a slow hard grind to recovery. Sterling had a steady day against the US$ and € after the losses of earlier in the week.

Note:  All rates are mid market inter bank and indicative at the point of publication. 

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