Sterling gains in currency trading
U.K. economic data is helping the pound in forex trading on the currency market today. One of the key bits of helpful economic data today is the PMI data that was released. A significant change to the positive has taken place, and that is helping the sterling in currency trading.
Improving economic indicators could provide clues that the British economy is stabilizing. Numbers are no long in what amounts to a freefall, and they seem to be turning around in some cases. This is good news for the British economy — and for the U.K. pound in forex trading.
Indeed, sterling made it to 1.4800 against the dollar in currency trading. With risk appetite improving, and stocks holding their own (though down slightly on jobless data), the U.K. pound is likely to do well in forex trading in the coming days.
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