Pound Rises After UK Growth Accelerates

The Great Britain pound edged higher today after the release of UK economic data that showed that United Kingdom’s growth accelerated last quarter.
UK gross domestic product grew 0.7 percent in the second quarter of this year following the 0.4 percent increase in the previous three months. The figure matched analysts’ estimates exactly. The positive data eased fears about the possible negative impact of global fundamentals on Britain’s economy, allowing the currency to carve out gains.
GBP/USD ticked up from 1.5557 to 1.5577 as of 12:08 GMT today. GBP/JPY advanced from 191.67 to 192.80.

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