Sterling rises after UK's GDP data

The British Pound rose against most of its counterparts on Wednesday, after the release of the Britain's GDP data.


Data showed today that the final reading of the UK's GDP fell 19.8% in the second quarter, beating expectations of -20.4%.


While the final reading of the US GDP decreased 31.4% in the second quarter, better than forecasts of -31.7%.


The British current account reading posted a deficit of 2.8 billion pounds, more than forecasts of 1 billion pounds.


As of 20:50 GMT, GBP/USD rose 0.5% to 1.2918, after the pair hit a high of 1.2942, and a low of 1.2806.


EUR/GBP fell 0.4% to 0.9086, with a high of 0.9158 and a low of 0.9067.

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Posted By laraparker : 01 October, 2020
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