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    Thread: Pound rallies after news of british postponement

    1. #1
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      Default Pound rallies after news of british postponement

      Sterling rallied after news of the british postponement as the pound rallied on Friday against a range of world currencies following a report that claimed the UK was likely to postpone the day it graduated from the European Union after March 29. As a reason for a possible extension of article 50.

      Government ministers mentioned in the report the accumulation of bills that must be approved before the UK leaves the EU, including the draft immigration law.

      In morning data, economic data showed a slowdown in economic growth in the UK over the three months to November.

      Where GDP grew by 0.3% in the three months to November, down from 0.4% in the three months to October.

      On a monthly basis, GDP rose by 0.2% in November.

      The construction sector led the growth with a 0.6% increase, the services sector rose by 0.3%, and industrial production fell by 0.3%, retreating for the fifth month in a row, marking the longest losses in the manufacturing sector since the financial crisis in 2008.

      The rise of the British news after the postponement of the bricast

      GBP trades higher

      The pound rose 0.38% against the dollar to trade at 1.2795 at 12:35 CET.
      At the same time, the Euro fell 0.17% against the GBP to trade at 0.9006 at the same time.
      The British currency rose 0.27% against the yen to 138.64 at 12:36 CET.

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