Sterling on track for third weekly profit in row
2017-09-08 16:23:15 GMT (Economies.com)
Sterling on track for third weekly profit in row

Sterling rose against the dollar to the highest since August 3, rebounding for the tenth session out of twelve from the lowest since June 27, following an array of data from Britain and the US, the world's largest economy. 

 

As of 04:21 GMT, GBP/USD rose 0.66% to 1.3188 from the opening of 1.3102, with an intraday low at 1.3094, and a five-week high at 1.3224. 

 

Earlier UK data showed manufacturing production rose 0.5% in July, besting expectations of 0.3%, and compared to no change in June, while industrial production slowed down in line with expectations to 0.2%, compared to 0.5% in June, as the goods trade deficit widened to 11.6 billion pound. 

 

Otherwise from the US, Federal Reserve Bank of Philadelphia President Patrick Harker delivered opening remarks at a consumer finance research conference hosted by the Federal Reserve Bank of Philadelphia, while earlier data showed wholesales inventories rose 0.6% according to the final reading, compared to 0.4% in the preliminary reading, and 0.7% in June. 

 
 
 
  Symbol Last Change Chg.%
1.1844
-0.0061
0.5153%
1.3469
-0.0019
0.1412%
17.113
0.127
0.748%
52.155
1.510
2.982%
59.03
2.17
3.82%
1308.335
11.490
0.886%
 
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