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Sterling hits session high vs dlr after UK data

Wed Nov 11, 2009 4:41am EST

LONDON, Nov 11 (Reuters) - Sterling rose on Wednesday, hitting a session high against the dollar after data showed UK unemployment rising by less than had been forecast.

The number of people claiming jobless benefit in the UK in October rose by its smallest amount in 18 months, while the number of people in work rose for the first time in over a year, official data showed.

UK claimant count unemployment rose by 12,900 last month, well below forecasts for an increase of 20,000. [ID:nONS004590]

Sterling rose to a session high of $1.6785 against the dollar GBP=D4 after the data from around $1.6740 just beforehand. At 0939 GMT it was trading at $1.6781, up 0.3 percent on the day.

The euro also pared gains against sterling to around 89.61 pence EURGBP=D4 from 89.80 pence previously.

Britain's FTSE 100 .FTSE was little changed after the data, up 1.1 percent at 5,286.70 points by 0934 GMT.

Market players will quickly turn their attention to the release of the Bank of England's quarterly Inflation Report at 1030 GMT.

(Reporting by Jessica Mortimer)



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