The British Pound appreciated against the US Dollar, following the UK Manufacturing Production and GDP data releases on Monday at 08:30 GMT. The GBP/USD exchange currency rate gained 13 pips or 0.10% right after the release. The Pound continued trading at the 1.2300 level against the Greenback.
The Office for National Statistics released the UK Manufacturing Production data, which came out better-than-expected of 0.3% compared with the forecast of the negative 0.3%. The UK GDP data also came out better-than expected of 0.3% compared with the forecast of 0.2%.
The Head of GDP Rob Kent-Smith commented the release: “While the largest part of the economy, services sector, returned to growth in the month of July, the underlying picture shows services growth weakening through 2019.”
