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The British pound (GBP) strengthened against the US dollar (USD), causing the GBPUSD exchange rate to rise. This means that with one pound, investors could buy more US dollars.
One of the factors supporting the strengthening of the British pound was better-than-expected UK economic data. For example, inflation was not as bad as expected or a decline in the UK unemployment rate. Improving economic conditions provided a positive sentiment for the currency.
On the other hand, the US dollar weakened due to less satisfying US economic data. For example, slower US economic growth or unemployment figures that had not fully recovered to pre-pandemic levels.
Investors also reacted to the first state visit of UK PM Liz Truss to the US. This positive diplomatic visit gave a good sentiment for the economic relations between the two countries.
The GBPUSD increase was also triggered by the Bank of England's decision to raise its benchmark interest rate. This made the British pound more attractive as an interest-bearing asset.
jgn peduliin desknya
One of the factors supporting the strengthening of the British pound was better-than-expected UK economic data. For example, inflation was not as bad as expected or a decline in the UK unemployment rate. Improving economic conditions provided a positive sentiment for the currency.
On the other hand, the US dollar weakened due to less satisfying US economic data. For example, slower US economic growth or unemployment figures that had not fully recovered to pre-pandemic levels.
Investors also reacted to the first state visit of UK PM Liz Truss to the US. This positive diplomatic visit gave a good sentiment for the economic relations between the two countries.
The GBPUSD increase was also triggered by the Bank of England's decision to raise its benchmark interest rate. This made the British pound more attractive as an interest-bearing asset.
jgn peduliin desknya
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