Sterling reaches day’s maximum after British GDP data

Sterling reaches day’s maximum after British GDP data

On Wednesday, the British pound grew to the day’s maximum after data unveiling that the British economy managed to pick up during the third quarter. It undoubtedly increased the chances of an interest rate lift by the Bank of England already next month.

The currency pair GBP/USD tacked on 0.31% being worth 1.3176.

As the Office for National Statistics informed, UK GDP ascended by 0.4% by September, gaining 0.3% in the previous quarter. Market experts had hoped it would keep to 0.3%.

On a year-over-year basis the British economy expanded 1.5%. It matched last quarter’s surge and above estimates for an expansion of about 1.4%.

Service sector output provided turned to be the cornerstone of the surge, expanding by approximately 0.4% on the quarter.

As for the manufacturing sector, it returned to growth too, with output ascending by 1.0%, although construction activity dived by 0.7% on the quarter.

Similar

Popular

Crude edges down in Asia on Caixin PMI

On Tuesday, crude prices traded weaker because a poll on Chinese manufacturing came in weaker than expected and market participants looked ahead to American inventories on oil as well as refined products to set the overall tone…

Deposit with your local payment systems

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Internal error. Please try again later

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera