British pound rises on upbeat economic data

The British pound rose against the US dollar on Friday, after the release of upbeat economic data.

The British preliminary GDP reading showed a growth of 1.0% in Q4, while the third quarter's reading was at 16%.

The UK business investment index rose 1.3%, beating forecasts of a drop by 1.4%, while the good trade balance index recorded a deficit of £14.3 billion pounds, better than forecasts of £15.2 billion.

Investors are still monitoring the new Covid-19 lockdown on the British economy, especially as restrictions will continue until mid-February.

As of 20:39 GMT, GBP/USD fell 0.2% to 1.3850, after hitting a high of 1.3864 and a low of 1.3776.