The dollar has remained largely unaffected in the wake of employment figures released at the end of last week.

This morning the dollar stood at 1.7653 against the pound and at 1.4622 to the euro.

Figures from the Labour Department estimated US employers created only around half of the jobs expected in December, causing concern in some quarters.

However, with November's figures revised upwards to 305,000 jobs, well up from earlier predictions of 215,000, President Bush has gone on the offensive.

Bush insisted "the economy is getting going", with treasury secretary John Snow and vice president Dick Cheney both reiterating the sentiments.

Analyst are now awaiting the impact of the shifting economic picture on the Federal Reserve, which will meet soon to discuss the interest rate decision

The Fed has been consistently raising the base rate for around 18 months.