Great Britain Pound Rises on Smaller Budget Deficit
The Great Britain pound rose today versus other major currencies as the nation’s budget shortage in July was smaller than expected.
The UK budget posted the deficit of 3.17 billion pounds ($5 billion), compared with 5.52 billion pounds in the previous year. The analysts expected the deficit of 4.8 billion pounds. The report supported the outlook that the measures, taken by the new government, will reduce Britain’s debt.
GBP/USD traded at 1.5640 today as of 11:33 GMT after it opened at 1.5591 and slumped as low as 1.5508. GBP/JPY rose from 133.22 to 133.79.
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Earlier News About the Great Britain Pound:
- Sterling Declines as Confidence of Consumers Wanes (2010-08-11)
- Pound Rise vs. Dollar, Falls Against Euro & Yen (2010-08-06)
- Sterling Falls After Interest Rates Remained at Low Level (2010-08-05)
- Pound Rises as UK Economy Grows (2010-08-02)
- Britain's GDP Data Pushes Pound Up (2010-07-23)