Euro holds as eurozone joblessness climbs to 11 7

The euro has held its ground in forex trading versus the dollar and the pound this morning (November 30th) on news unemployment in the eurozone hit fresh highs in October.

According to official figures from Eurostat, the joblessness rate continued to climb over last month, reaching 11.7 per cent.

This is up from the 11.6 per cent logged in September and the 10.4 per cent recorded in the same month in 2011.

An additional 173,000 people were out of work across the single currency region, bringing the total unemployment figure to 18.7 million.

Germany's jobless figure held at 5.4 per cent, while Austria's fell from 4.4 per cent to 4.3 per cent, but Spain continued to suffer, seeing its rate rise from 25.8 per cent to 26.2 per cent.

At 11:15 GMT, the euro was 0.1 per cent higher in trading with the dollar to €1 buying $1.300, while it gained by 0.2 per cent against the pound to £0.810.

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