Pound Gains on Dollar, Remains Weak Against Other Majors

The Great Britain pound rose against the US dollar during Tuesday’s trading but fell against other currencies, including the euro.

The sterling’s gains versus the greenback were the result of the US currency’s weakness after the missile launch by North Korea. Fundamentals were not particularly supportive to the UK currency itself, with the Brexit remaining a large question mark. Economic data was not especially good either as the Nationwide House Price Index fell unexpectedly in August, albeit by just 0.1%.

GBP/USD ticked up from 1.2931 to 1.2950 as of 11:49 GMT today, touching the daily high of 1.2977. EUR/GBP advanced from 0.9260 to 0.9299, rising for the third day in a row and trading near the highest since October 2009.

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