The Great Britain pound ended the Friday session higher against the US dollar with the help of positive domestic fundamentals. The sterling was flat versus the Japanese yen and was not able to outperform the euro.
The Nationwide House Price index continued to grow at the rate of 0.6 percent in February, which was the same as in January. The GfK UK Consumer Confidence Index stayed unchanged at -7 this month. Nick Moon, Managing Director of Social Research at GfK, commented:
After the substantial six point rise in the Index last month, holding steady, rather than any form of correction, is good news. Just a year ago the Index stood at -26, so the current level is massively better.
Expectations for the General Economic Situation over the next 12 months remained at 22, the highest since September. Overall, the data was relatively good and supported the outlook for continuing recover of Britain’s economy.
GBP/USD was up from 1.6687 to the settlement of 1.6743. GBP/JPY closed at 170.39, almost at the opening level of 170.41. EUR/GBP edged higher from 0.8214 to 0.8242.
If you have any questions, comments or opinions regarding the Great Britain Pound,
feel free to post them using the commentary form below.