The Great Britain pound advanced, rising to the highest level in almost three months against the US dollar, as the report today showed that the UK producer prices index climbed in March.
Both input and output prices rose in Britain last month. The output price measure for all manufactured products rose 0.9 percent between February and March, lead by prices for petroleum, tobacco, alcohol, and food products. The input price measure of UK manufacturersâ materials and fuels rose 3.7 percent in March, because of the increase in the prices for crude oil. The predicted values were 0.7 percent and 2.2 percent respectively.
GBP/USD traded at 1.6385 today as of 14:10 GMT after rising earlier from 1.6107 to 1.6427, the highest rate since January 17.
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