British Pound Starts UK GDP Week on Front Foot
The pound traded higher against the dollar, hovering near 1.3500, as investors brace for second-quarter UK GDP data later this week.
GBPUSD
The British pound edged higher against the US dollar at the start of a data-heavy week, with GBP/USD trading around 1.3500 during the European session. The currency also outperformed against other major peers.
Market attention is turning to the upcoming UK Q2 GDP release, which could shape Bank of England policy expectations. The data is due later this week, and positioning ahead of the print appears to be lending support to sterling.
No other major UK economic releases were due on the day, leaving the pound to benefit from mild risk appetite and a slightly softer dollar.
Source: FXStreet Forex News