GBP/USD Goes Higher on UK PPI
The Great Britain pound rallied today against the US dollar as the data from the UK producers was positive, improving outlook for Britain’s economy and currency.
The output Producer Price Index rose 0.1 percent in June from May, matching forecasts. The input PPI increased 0.4 percent. The expected increase was by 0.4 percent. The input fell 1.7 percent in May, while the May growth of output was 0.2 percent.
GBP/USD climbed from 1.5968 to 1.6040 as of 13:33 GMT today after it fell earlier to 1.5930.
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Earlier News About the Great Britain Pound:
- BOE Holds Rates, Pound Suffers (2011-07-07)
- Services PMI Boosts Pound in Short-Term, Outlook Remains Negative (2011-07-05)
- Slower Manufacturing Growth Makes Sterling Weaker (2011-07-01)
- Sterling Trades Lower with Widening Current Account Deficit (2011-06-28)
- Pound Regains Strength After Week of Losses (2011-06-27)
