Economic Reports Spark Rally of Great Britain Pound

The Great Britain pound rallied today, boosted by a couple of favorable macroeconomic reports released from the United Kingdom during the Wednesday’s trading session.
UK gross domestic product rose 0.7 percent in the second quarter of 2015 according to the final estimate, unchanged from the preliminary reading and matching analysts’ predictions. The current account deficit shrank to £16.8 billion in Q2 2015 down from £24.0 billion in Q1 (revised, £26.5 billion before the revision). While not all Wednesday’s data from Britain was good, traders clearly preferred to focus on positive reports, leading to the rally of the sterling.
GBP/USD gained from 1.5147 to 1.5188 and GBP/JPY rose from 181.38 to 182.70 as of 9:46 GMT today.

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Your email address will not be published.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 *