The Pound Sterling
to Euro (GBP/EUR), Canadian Dollar (GBP/CAD) and Russian Ruble
(GBP/RUB) exchange rates began Wednesday’s European session trending
higher while the Pound Sterling to Turkish Lira (GBP/TRY) exchange rate
softened.
Despite Wednesday being a relatively quiet day for data, the British currency managed to climb against other major peers as investor sentiment in the UK economic recovery heightened.
Tuesday saw the release of UK Manufacturing and Industrial Production figures. As manufacturing output failed to decline to the extent forecast, Sterling remained rather buoyant.
In December the annual figure was forecast to decline from 3.0% to 2.0%; however, the actual stat remained at a more favourable 2.4%. Meanwhile, Industrial Production flopped from 1.1% to 0.5% on the year.
Read more at Click here / www.trade4x.net
Despite Wednesday being a relatively quiet day for data, the British currency managed to climb against other major peers as investor sentiment in the UK economic recovery heightened.
Tuesday saw the release of UK Manufacturing and Industrial Production figures. As manufacturing output failed to decline to the extent forecast, Sterling remained rather buoyant.
In December the annual figure was forecast to decline from 3.0% to 2.0%; however, the actual stat remained at a more favourable 2.4%. Meanwhile, Industrial Production flopped from 1.1% to 0.5% on the year.
Read more at Click here / www.trade4x.net
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