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Pound Climbs on GDP & Business Investment

December 22, 2011 at 10:43 by Vladimir Vyun

Mix of pound billsThe Great Britain pound advanced today after the economic reports showed that the nation’s economy grew and the business investment expanded last quarter. The gains were limited as the trade balance and current account deficits widened.

The UK gross domestic product expanded 0.6 percent in the third quarter, following the 0.1 percent growth in the second quarter. The business investment rose 0.3 percent in Q3 from Q2. Britain’s current account deficit reached the record £15.2 billion in the last quarter. The trade deficit widened to £9.9 billion.

GBP/USD rose from 1.5673 to 1.5681, while the daily maximum was 1.5728, and GBP/JPY climbed from 122.33 to 122.75 before trading at 122.46 as of 10:43 GMT today.

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