The Great Britain pound gained today even though Britain’s economic growth slowed more than was estimated previously, meaning that the nation’s central bank has less incentive to start hiking interest rates.
UK gross domestic product grew 0.4 percent in the third quarter from the previous three months according to the final estimate. The growth was slower than the preliminary estimate of 0.5 percent and the previous quarter’s expansion by 0.7 percent. Yet this did not prevent the sterling from rising against its major peers like the dollar and the euro.
GBP/USD rose from 1.4824 to 1.4886 as of 13:55 GMT today. EUR/GBP dropped from 0.7386 to 0.7321.
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