The Great Britain pound gained today following the release of a GDP report that showed stable growth of the UK economy. The currency backed off from its session highs as of now but remains safely above the opening level.
Britain’s gross domestic product rose 0.5 percent in the fourth quarter of 2015 after rising 0.4 percent during the previous three months. The reading matched the consensus forecast of economists. Yet apparently markets were counting on a weaker result as the sterling surged after the report.
GBP/USD rose from 1.4232 to 1.4306 as of 12:40 GMT today after rising to the daily high of 1.4345. EUR/GBP traded at 0.7626 following the drop from 0.7652 to 0.7599.
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