The pound edged up against the euro, shaking off data that showed the UK labour market lost more steam in August.
Reuters: The pound edged up against the euro on Tuesday, shaking off data that showed the UK labour market lost more steam in August and business activity deteriorated this month as an economic survey for the euro zone was even worse.Britain’s unemployment rate held steady at 4.2% under a new calculation that accounts for dwindling survey responses from households, while the number of employed people fell by 82,000 and the number unemployed rose by 74,000. Sterling was last up 0.
Against the dollar, the euro was last 0.05% higher at $1.0595, having declined 0.75% on Tuesday. The single currency’s slide lifted the dollar index and it last steadied at 106.23, away from a one-month low of 105.35 hit in the previous session. The euro is the most heavily weighted currency in the dollar index, which measures the greenback against a basket of six peers.
Shares on the Johannesburg Stock Exchange rose, with the blue-chip Top-40 index closing about 0.8% higher. South Africa’s benchmark 2030 government bond was stronger, the yield down 15 basis points to 10.675%.Reuters: China led Asia’s stock markets higher on Wednesday as investors cheered the approval of a trillion-yuan sovereign bond issue as a harbinger of stimulus, while the Aussie dollar hit a two-week high as hotter-than-expected inflation lifted rate forecasts.
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