GBP/USD Rises to Highest Since September, Ignoring Data

The Great Britain pound gained today, reaching the highest level since September, despite underwhelming economic data released from the United Kingdom today.

UK gross domestic rose 0.3% in the first quarter of this year, missing the analysts’ estimate of 0.4%. It was the slowest growth rate in a year. Released earlier, UK GfK consumer confidence slipped to -7 in April from March’s -6.

GBP/USD rallied from 1.2902 to 1.2946 as of 10:46 GMT today, trading near the highest level since September 30. GBP/JPY gained from 143.53 to 144.29, close to the highest since January 30.

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