May25
UK GDP affects sterling exchange rates?
By Leigh Smith
So far this morning we have seen modest gains for the Pound accross the board, including GBPCAD exchaneg increasing by 0.6%. This seems to be mainly on the back of positive sentiment around the UK economy following GDP figures released this morning confirming the economy did grow as previously thought at a rate of 0.3%.
The movements however have been quite different for GBPUSD exchange rates, with the cost of buying US dollars increasing by over 1%.
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