Sterling climbs after growth data
Economies.com
2022-09-12 19:26PM UTC
Sterling rose against most major rivals following a spate of positive data and geopolitical developments.
UK data showed GDP grew 0.2% in August, missing estimates of 0.3%, and improving from a 0.6% contraction in the previous reading.
Other data showed the UK trade deficit at 19.4 billion pounds, beating estimated of a deficit of 22.2 billion pound.
GBP/USD rose 0.8% to 1.168 as of 19:14 GMT.
The Dollar
The dollar index fell 0.6% as of 19:15 GMT to 108.3, with a session-high at 108.8, and a low at 107.3.
US consumer prices, inflation data, will be released later for August.
The data will be pivotal to decide the policy decisions by the Federal Reserve in September.
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