Mon, 12 Dec 2022 08:03:57 GMT
UK GDP beats forecast
On a month-on-month basis the United Kingdom gross domestic product has increased by 0.5%, instead of the market consensus forecast of 0.4%. The higher than forecast GDP revealed that the Bank of England has room for interest rate hikes. Due to that reason, the Pound surged against peer currencies. The GBP/USD surged nearly 40 base points or 0.31%.