Pound Jumps with Improving Economic Indicators

The Great Britain pound jumped today as macroeconomic data released from the United Kingdom suggested that the impact of the Brexit had not yet hit the nation’s economy.
UK economic indicators not only have not worsened in the month that followed the Brexit vote, they have actually improved. Of particular note was consumer inflation, which rose to 0.6% in July while experts had predicted it to stay at 0.5%. Other reports released during the Tuesday’s session were good, and most of them beat expectations.
Tomorrow, several reports about the UK jobs market will be released. Economists expect a surge of jobless claims but also an increase of average earnings.
GBP/USD jumped 1.3% from 1.2877 to 1.3042 as of 21:51 GMT today. EUR/GBP dropped from 0.8683 to 0.8643 after rising to 0.8724 — the highest level since August 2013. GBP/JPY was down from 130.37 to 129.23 (the lowest since July 6) intraday but bounced to 130.74 as of now.

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