After declining to record low in months versus the euro and the dollar, the pound rebounded today as reports unexpectedly improved the sentiment towards the economic recovery in the United Kingdom, stopping the losing streak for the British currency.
?he Office for National Statistics posted a report today indicating a lower than expected decline in U.K.’s gross domestic product, which combined with a positive retail sales report provided support for the British currency to pare some of its previous losses versus the euro and the greenback in the beginning of the week.
GBP/USD traded at 1.5955 as of 21:55 GMT from 1.5887 yesterday.
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