Forex – GBP/USD Hits 19-Month Highs after UK Data


© Reuters. Pound continues to rally after mostly positive UK economic reports

Investing.com – The pound climbed to a 19-month high against the U.S. dollar on Wednesday, boosted by the release of mostly postive UK economic reports and as the greenback remained broadly under pressure.

climbed 0.65% to 1.4093, the highest since June June 2016.

The pound was boosted after showed that the UK unemployment rate held at a 42-year low in November, in line with expectations, while wage inflation excluding bonuses unexpectedly increased.

On a less positive note, data also showed that the UK claimant count increased by 8,600 in December, disappointing expectations for a gain of 5,400 people.

Sterling has been strongly supported in recent sessions by growing optimism around chances the UK could secure a favorable Brexit deal.

Meanwhile, the dollar remained broadly selling pressure even after Congress on Monday to fund the government for around three weeks and President Donald Trump signed the bill, ending the three-day government shutdown.

Sterling was also higher against the euro, with sliding 0.30% to 0.8757.

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