Forex – GBP/USD Up On Economic Data

Forexpros
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Forexpros – The British Pound was higher against the U.S. Dollar on Friday after the release of U.K. data on PPI Input.

GBP/USD was trading at 1.5647, up 0.12% at time of writing.

The pair was likely to find support at 1.5561, Tuesday’s low, and resistance at 1.5770, Thursday’s high.

Earlier in the day, official data showed that Producer price inflation input in the U.K. rose unexpectedly to a seasonally adjusted 0.1% last month from -0.8% in the preceding month.

Analysts had expected U.K. PPI input to fall -0.1% last month.

Meanwhile, the British Pound was up against the Euro and the Japanese Yen, with EUR/GBP shedding 0.02% to hit 0.8534 and GBP/JPY rising 0.23% to hit 121.62.

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