The Great Britain pound rallied today, reaching the strongest level in a month versus the US dollar, as macroeconomic data from the United Kingdom was relatively positive. The softness of the US currency added to the upside momentum of the sterling.
The Nationwide House Price Index rose 1 percent in April versus the meager increase by 0.1 percent during the previous month. At the same time, Confederation of British Industry reported that growth of retail sales slowed. Yet the report also noted that “growth in retail sales volumes slowed in the year to April but is forecast to pick up again next month.”
GBP/USD rallied from 1.5338 to 1.5464 as of 17:45 GMT today. GBP/JPY went up from 182.30 to 183.41, touching the high of 184.09 — the highest level since March 3.
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Great Britain Pound Logs Gains After Economic Data
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