The Great Britain pound jumped to the highest rate since January against the US dollar and surged to the strongest rate since 2008 versus the Japanese yen today as data showed that the United Kingdom was able to maintain stable economic growth.
UK gross domestic product expanded 0.8 percent in the third quarter of 2013 from the previous three months, showing the same rate of growth as in the second quarter. GDP growth was 1.5 percent above growth in Q3 2013. It looks like the sterling is driven by domestic data for now and it is beneficial for the currency as Britain’s fundamentals are good.
GBP/USD advanced from 1.6213 to 1.6292 as of 12:52 GMT today and its daily high of 1.6326 was strongest since January 2. GBP/JPY soared from 164.20 to 165.91, trading near the highest price since October 2008.
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