The Pound Sterling (GBP) is experiencing a robust rally against major currencies, bolstered by positive sentiment surrounding the UK government's budgetary measures. As traders respond to upwardly revised Purchasing Managers' Index (PMI) data, the GBP/USD pair rises to 1.3710, reflecting a gain of 0.5%. This momentum suggests a strengthening economic outlook, which has contributed to increased demand for the currency.
Market analysts note that the GBP/EUR exchange rate is also on the rise, trading at 1.1530, an increase of 0.4% as the euro struggles amid concerns over the European economic landscape. The UK's budget relief initiatives appear to resonate well with investors, paving the way for further gains. With technical levels indicating potential resistance at 1.3750, traders remain keenly focused on upcoming economic data releases that could influence the Pound's trajectory in the coming sessions.
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Data Source: FX Killer Analysis Team Updated: 2025-12-05 09:21
Disclaimer: This article is for reference only and does not constitute investment advice. Forex trading involves risks; please make decisions carefully.