GBP/USD: UK Current Account

The British Pound traded sideways against the US Dollar, following the UK Current Account data release on Friday at 08:30 GMT. The GBP/USD exchange currency rate gained 7 pips or 0.06% right after the release. The British Pound continued trading at the 1.2685 level against the Greenback.

Office for National Statistics released the UK Current Account data , which came out better-than-expected of negative 30.0B compared with forecasted negative 32.0B.

According to the official release: "The UK financed its current account deficit mainly through other investment, where UK investors withdrew overseas deposits while overseas investors increased their deposits with UK monetary financial institutions."