Pound briefly bounces after better than expected survey data
Reuters
Published Jan 24, 2020 04:49AM ET
Pound briefly bounces after better than expected survey data
LONDON (Reuters) - The British pound extended its gains on Friday after surveys showed that British companies are enjoying their best month in more than a year, although the rally was brief as a potential Bank of England interest rate cut hangs in the balance.
Sterling rose as much as 0.3% to $1.3180 before erasing those gains. It was last flat on the day at $1.3125.
Against the euro the pound strengthened to 83.90 pence (EURGBP=D3) and was last up 0.2% to 84.12 pence.
British stocks (FTSE) climbed higher after the purchasing managers index surveys for December came in better than economists had expected.
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Written By: Reuters
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