The Great Britain pound rose today as macroeconomic data showed that both input and output Producer Price Index rose in January more than was predicted by analysts.
Both input and output PPI increased 0.5 percent in January. That’s a good result compared to forecast 0.4 percent for input and 0.1 percent for output. The data looks even better considering the output PPI fell 0.2 percent, while the input PPI dropped as much as 0.6 percent in the preceding month. The report made analysts speculate that the UK economy has some resilience and the stimulating measures have had some effect.
GBP/USD rose from 1.5813 to 1.5834, following the drop to 1.5765, and GBP/JPY went up from 122.79 to 123.06 as of 10:55 GMT after falling to 122.45 earlier today.
Posts
No comments:
Post a Comment