Sterling rises near its highest level in three weeks ahead of the growth of the British economy data

The pound rose during the Asian market on Friday against a basket of currencies, near its highest level against the US dollar, just before the release of the growth data of the British economy during the second quarter, which the central bank relied upon to determine the future of monetary policy, the dollar index fell for the second consecutive day as investors refrain from building any purchasing positions of the US currency ahead of Janet Yellen president of the Federal Reserve's remarks in Jackson Hole conference, as the US economy awaits growth data for the second quarter and other data about confidence in the economy during August.

Sterling pound

The pound lost 0.3 percent yesterday against the US dollar, the first loss in four days, within a correction and profit taking after the pound recorded the previous day its highest level in three weeks to $ 1.3271.

GBP against the US dollar by 07:50 GMT, trading at 1.3222 from an opening price of 1.3187 after recording the highest price of 1.3231, and the lowest of 1.3183.

The pound rose during the Asian market on Friday against a basket of currencies, resuming its gains against the US dollar, near its highest level in three weeks, just before the release of the British economic growth data for the second quarter, which the central bank relied upon to determine the future of monetary policy.

Published by 08:30 GMT the second reading of GDP second quarter is expected to read the same initial growth rate of 0.6%, and the British economy recorded during the first quarter growth rate of 0.4%.

U.S. dollar

The dollar index ended trading yesterday, down less than 0.1 percent, the second loss in three days, the US currency fell despite the positive data released yesterday from Washington, which showed a rise in durable goods orders by more than expected during July, and lower jobless claims for the week ending 20 August.

The dollar index is trading by the time 07:52 GMT around the level of 94.60 points from the opening level of 94.66 points, and recorded the highest level of 94.67 points and 94.49 points as the lowest level.

The dollar index fell during the Asian market on Friday, extending losses for the second straight day, as investors refrain from building new purchasing positions of the US currency ahead of Janet Yellen's speech president of the Federal Reserve in Jackson Hole conference, in addition to important data on the growth of the US economy during the second quarter and other data about the confidence in the economy during the current month.

Published by 12:30 GMT the second reading of GDP during the second quarter, the expected growth rate is 1.1% from 1.2% growth rate is the initial reading, and US economic growth recorded a rate of 0.8% in the first quarter.

And later the final reading of the University of Michigan index to measure consumer confidence in August expecting 90.6 compared with the 90.4 initial reading.

And Janet Yellen speaks by at 14:00 GMT at the annual Jackson Hole conference, which includes most of the governors of the world's central banks, and Yellen is expected to provide new evidence concerning the future of US monetary policy and raise interest rates.