UK Pound Sterling and US Dollar

The UK pound sterling declined versus the US dollar after investors got hold of upbeat reports on US economy. GBP and USD touched 1.5405 during trading at European stock markets. The currency pair firmed up at 1.5390 and scaled down 0.11 percent.

Meanwhile, outlook on the US currency was wobbly following the report of the US labor department that Americans seeking claims for jobless benefits increased from to 282,000 to 313,000.

Statistics also indicated that consumer prices in the US dropped 0.7 percent in January while core consumer costs except food and energy went up by 0.2 percent last month.

Meanwhile, the UK economy was hardly affected by data which showed that GDP inflated by 0.5 percent during the fourth quarter of 2014. The economy climbed up by 0.7 percent during the previous quarter and expanded at a yearly rate of 2.6 percent during the third quarter of last year.

The pound sterling was down versus the common currency with EUR and GBP increasing by 0.33 percent to 0.7293.

DOWNLOAD FREE UFX TRADER APP

 

START TRADING OIL