Pound falls to five month low against euro

The pound has fallen to a five month low against the euro amid a rising claimant count and falling consumer confidence.

There is now €1.13 to the pound which is the lowest rate since April. The fall  comes after figures from the ONS revealed the number of people out of work and receiving unemployment benefit rose by 5,300 in September to 1.47 million. Meanwhile, Nationwide's latest Consumer Confidence Index fell to 53 for September, down nine points from August. Mark Bolsom, head of the UK Trading Desk at Travelex Global Business Payments, says: "The UK jobs market is coming under pressure, consumer confidence is falling, inflation is still high and quantitative easing is being openly discussed. "Ad...