The Great Britain pound was steady against the US dollar but rallied versus the Japanese yen together with most other major currencies today even though macroeconomic indicators from the United Kingdom missed analysts’ projections, highlighting difficulties that the British economy is experiencing.
Industrial production fell 0.2 percent in December from November instead of rising 0.3 percent as was predicted by experts. While manufacturing production rose 0.1 percent, it trailed forecasts as well. With uneven economic recovery and small chances for an interest rate hike in the near future, it looks like the sterling has few reasons to rally yet the currency managed to resist the negative fundamentals.
GBP/USD traded at 1.5235 as of 14:12 GMT today after opening at 1.5214. GBP/JPY rallied from 180.47 to 181.92.
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