The GBP/USD exchange rate was little changed after the relatively encouraging economic data from the United States and the UK.
exchange rate was little changed after the relatively encouraging economic data from the United States and the UK. The pair was trading at 1.2417, where it has been in the past few days while the US dollar index has been stuck at $103.9.The GBP/USD reacted mildly to important economic news on Tuesday. In a note, the International Monetary Fund said that the UK economy will likely not sink into a recession later this year.
Meanwhile, the US published encouraging economic data on Tuesday. New home sales jumped from 4.0% in March to 4.1% in April. Precisely, the number of new home sales rose to 663k in April. Another report showed that the services PMI increased from 55.1 in May.
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