The Great Britain pound pulled back from the six-month high against the US dollar as the greenback made a bounce. Still, the UK currency gained against other majors, including the euro.
The sterling was the strongest major currency on the Forex market during the current week and retained its upward momentum despite the small retreat against the dollar. The UK currency managed to keep its strength against other most-traded rivals, like the Japanese yen and the falling euro. As for today’s data from Great Britain, construction output is not a major indicator, yet it also helped the pound, showing growth of the construction sector in March.
GBP/USD fell from 1.5775 to 1.5708 as of 12:19 GMT today. EUR/GBP went down from 0.7231 to 0.7210, virtually erasing yesterday’s gains.
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