Consumer Confidence in UK Improves, Supporting Pound
The consumer confidence in the UK unexpectedly improved this month, supporting the Great Britain pound and possibly allowing it to post the weekly gain after the previous streak of the losses.
GfK NOP Consumer Confidence Barometer rose from -20 to -19 in October. The analysts expected the decline to -22. The analysts are unsure whether the confidence would remain firm after the government would announce its plans for the budget cuts.
GBP/USD rose from 1.5940 to 1.5973 as of 14:01 GMT today after it dropped previously to 1.5876.
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Earlier News About the Great Britain Pound:
- Pound Rises on GDP and Better Outlook from S&P (2010-10-26)
- Pound Falls as UK Mortgage Approvals Declined in September (2010-10-26)
- Pound Weakens Ahead of G-20 Meeting (2010-10-22)
- Pound Falls on Dovish BoE Meeting Minutes (2010-10-20)
- Pound Falls on Concerns Budget Cuts Won't Help with Deficit (2010-10-18)