Economic news

Review: Pound gains on stable GDP growth

The pound soared to a 9-day peak on Thursday as solid UK GDP growth data supported anticipations the Bank of England would increase interest rates on Nov.2.

The British currency scaled a 9-day peak of $1.3278 on Thursday, extending Wednesday’s gains. Sterling lost 0.2 percent versus the euro, trading at 89.29 pence.

The UK economy grew 0.4 percent in the third quarter compared with 0.3 percent increase in the second.

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