The British Pound appreciated against the US Dollar, following UK GDP release on Monday at 08:30 GMT. The GBP/USD exchange currency rate gained 13 pips or 0.10% during a minute, right after the release.
The Office for National Statistics released GDP m/m data better-than-expected of 0.3% compared with forecasted 0.2% The data set is relatively new, which monitors the change in the total value of all goods and services produced by the economy.
Rob Kent-Smith , the head of GDP at the Office for National Statistics said: “Growth in the economy picked up in the three months to July However, production fell back, with manufacturing again slipping a little while energy generation and supply fell due to reduced demand. The dominant service sector again led economic growth in the month of July with engineers, accountants and lawyers all enjoying a busy period, backed up by growth in construction, which hit another record high level.”
