Pound Sterling rose to its highest level in 3 months

The pound rose against the US dollar to its highest level in three months, and the Office for National Statistics said that the unemployment rate in Britain rose to 3.6% in the third quarter, and job vacancies fell for the fifth time in a row.

The British pound rose against the US dollar by 1.2% to $1.1902 after hitting a session high of $1.2027, and the pound rose against the euro by 0.7% to 87.26 pence. Britain's new finance minister, Jeremy Hunt, presented his autumn budget on Thursday which is expected to contain a raft of measures including tax hikes and spending cuts aimed at closing a £50 billion gap in Britain's public finances.