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Pound Shows Small Gains After Release of UK Economic Data

November 8, 2016 at 9:57 by Vladimir Vyun

Stack of UK coins on GB pound billsThe Great Britain pound rose a little today thanks to relatively good economic indicators released from the United Kingdom over the trading session. The gains were limited, though, as traders were reluctant to place bets ahead of the US elections.

British Retail Consortium reported that retail sales rose 1.7% in October from a year ago on like-for-like basis. Manufacturing production grew 0.6% in September exceeding market expectations. The only bad indicator was industrial production that dropped 0.4% instead of rising a bit as analysts had predicted.

GBP/USD went up from 1.2393 to 1.2422 as of 9:48 GMT today. EUR/GBP traded at 0.8896 after opening at 0.8904.

If you have any questions, comments, or opinions regarding the Great Britain Pound, feel free to post them using the commentary form below.

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