Great Britain Pound Extends Rally

The Great Britain pound remained strong today, rising for third day in a row against the US dollar and the euro and for the fourth consecutive session versus the Swiss franc and the Japanese yen.
While most other currencies were hit by the news about Donald Trump winning the US presidential elections and has started a recovery just now, the sterling was never bothered by the news too much. The reason for that is the High Court’s ruling that UK Parliament should have a say in the matter of leaving the European Union, and it may result in “softer” Brexit. As for today’s economic data from Britain, construction output showed growth by 0.3% in September from August, in line with analysts’ expectations.
GBP/USD rose from 1.2553 to 1.2596 as of 18:11 GMT today, and its daily high of 1.2666 — the highest level since October 6. EUR/GBP dropped from 0.8674 to 0.8614, reaching the low of 0.8573 — the lowest since September 23.

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