US unemployment still high

The US had a busy day on Friday with both unemployment and Non-Farm roll figures released. It proved to be a very volatile day for the GBPUSD pairing as Unemployment remained unchanged at 10% and Non-Farm payroll very different from predicted. Since the recession began in 2007, 7.2 million jobs have been lost in the US. In 2009 alone, the economy lost 4.2 million jobs. This brought back fears of a double dip recession which could hugely affect future exchange rates.

Timing a transfer of £100,000 buying USD could have made you an additional $2,000 at the peak of the day. This in another example that keeping in close contact with your dedicated account manager here at FCD can provide a real benefit and create a real saving on your transfer.

If you do not have an account with us to take advantage of this spike simply click here to open a trading facility for either personal or business use. It carries no obligation or cost and gives you access to all the tools available to maximise any future currency exchange.