Pound Remains Strong, Supported by Positive Data

The Great Britain pound was very strong during the Wednesday’s trading session after the release of yet another positive macroeconomic indicator from the United Kingdom. The sterling remains firm during early Thursday’s trading.
British Bankers’ Association reported that the number of mortgages approved for house purchases increased from 35,816 in December to 36,394 in January. The reading exceeded the median forecasts of market analysts.
Macroeconomic data from Great Britain was mostly positive lately. It led to the impressive rally of the sterling. The UK currency was trading near the highest level since the beginning of January against the US dollar and the Japanese yen while versus the euro the pound was strongest since the end of 2007.
GBP/USD rallied from 1.5453 to 1.5526 yesterday and remained near that level as of 00:00 GMT today. EUR/GBP was at about 0.7318 after falling from 0.7335 to 0.7314 during the previous session. GBP/JPY rose from 183.77 to 184.52 on Wednesday and stayed close to that level at the beginning on Thursday.

If you have any questions, comments or opinions regarding the Great Britain Pound,
feel free to post them using the commentary form below.

Leave a Reply

Your email address will not be published. Required fields are marked *