Pound Goes Higher as PPI Grows
The Great Britain pound rose today as macroeconomic data showed that both input and output Producer Price Index rose in January more than was predicted by analysts.
Both input and output PPI increased 0.5 percent in January. That’s a good result compared to forecast 0.4 percent for input and 0.1 percent for output. The data looks even better considering the output PPI fell 0.2 percent, while the input PPI dropped as much as 0.6 percent in the preceding month. The report made analysts speculate that the UK economy has some resilience and the stimulating measures have had some effect.
GBP/USD rose from 1.5813 to 1.5834, following the drop to 1.5765, and GBP/JPY went up from 122.79 to 123.06 as of 10:55 GMT after falling to 122.45 earlier today.
If you have any questions, comments or opinions regarding the Great Britain Pound, feel free to post them using the commentary form below.
Tags
Categories
Earlier News About the Great Britain Pound:
- Pound Keeps Gains After BoE Boosts Asset Purchases (2012-02-09)
- UK Pound Gains against a Weakened Euro (2012-02-06)
- Services PMI Eases Concerns About UK Economy, Pound Gains (2012-02-03)
- Pound Down as Construction in Britain Slows (2012-02-02)
- Pound Higher on Consumer Confidence (2012-01-31)
3 Comments
why did it go up then dramatically down
Because everyone became worried about Greece again.
every things depends upon the economical view of the leaders..