Great Britain Pound Gets Lift from Positive Revision to GDP

The Great Britain pound was lifted by the positive revision to UK gross domestic product. With little positive news for the currency lately, it was enough to help the sterling gain even on the strong dollar, let alone on the very vulnerable euro.

UK GDP rose 0.6 percent in the fourth quarter of 2014 according to the final estimate versus 0.5 percent in the previous evaluation. Other economic indicators were good as well for the most part. The sterling rallied but is likely to feel pressure from uncertainty associated with the coming elections that are scheduled for May 7.

GBP/USD went up from 1.4805 to 1.4852 as of 16:03 GMT today after touching the daily low of 1.4754. EUR/GBP sank from 0.7315 to 0.7233.

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