The Pound Sterling (GBP) strengthened against its major currency peers on Tuesday, buoyed by positive economic indicators from the UK. The preliminary S&P Global Purchasing Managers' Index (PMI) for December revealed robust expansion, while the latest labor market data showcased stronger-than-expected wage growth for the three months ending in October. As a result, GBP/USD saw an intraday rise, trading above key technical levels.
This favorable data prompted a shift in market sentiment, leading traders to reassess their positions. The exchange rate for GBP/EUR also benefited, reflecting increased confidence in the UK economy compared to the Eurozone. With the pound gaining traction, market analysts expect further movement as investors digest the implications of these economic trends on future monetary policy decisions by the Bank of England.
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Data Source: FX Killer Analysis Team Updated: 2025-12-16 10:49
Disclaimer: This article is for reference only and does not constitute investment advice. Forex trading involves risks; please make decisions carefully.