US hiring better than expected in July

US employers added 114,000 new jobs to their payrolls in July, beating expectations for 100,000, a new report has said.

The news sent the dollar higher against the Swiss Franc as investors saw signs of recovery in the US economy and prompted a small bounce on the FTSE 100.

The report from payrolls processor ADP, a closely-watched record of employment trends, said private sector payrolls had been revised down to an increase of 145,000 jobs in June, from the previously reported 157,000.

The report is jointly developed with Macroeconomic Advisers.