- The pound rose sharply against the dollar and the euro after data on UK GDP for the 3rd quarter
Market news
25 October 2012
The pound rose sharply against the dollar and the euro after data on UK GDP for the 3rd quarter
The British pound rose to a week high against the U.S. dollar and the euro after the release of the UK GDP, which were higher than expected and reinforced hopes that the economy is recovering.
The growth came after preliminary data showed that UK GDP in the 3rd quarter increased by 1%. This was better than expectations of economists had forecast that GDP growth will be 0.6%.
GBP / USD pair rose to $ 1.6139, and the pair EUR / GBP updated minimum at around stg0.8063.
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