Sterling Holds at $1.3271 After 0.7% UK GDP Growth as Dollar Hits 19-Month High
Updated
Updated · Reuters · Nov 12
Sterling Holds at $1.3271 After 0.7% UK GDP Growth as Dollar Hits 19-Month High
3 articles · Updated · Reuters · Nov 12
Summary
Sterling was little changed at $1.3271 after UK third-quarter GDP rose 0.7%, matching forecasts and marking Britain’s fastest growth in two and a half years.
The data had limited immediate market impact but reinforced the Bank of England’s rate increase last week, with traders still pricing about a 75% chance of another hike in December.
Against the euro, the pound edged up to 83.57 pence, near its strongest level since May 2025, even as the dollar climbed to a 19-month high versus major peers.
Focus later shifted to New York Fed President John Williams after hotter-than-expected U.S. inflation and hawkish Fed remarks cemented expectations for a 25-basis-point December hike.