26 November 2009

Third Quarter GDP Grows

Yesterday, the pound sterling gained ground against the US dollar as investors waited for the Monetary Policy Committee to revise GDP growth figures for the third quarter.

Middle Eastern investors were keen on a significant level of increase - yet the actual revision ended up to -0.3 per cent. This was precisely what had been predicted by economic experts.

This took the shine off the pound's winning streak and it rallied later in the day.

The US dollar, meanwhile, reached its lowest level for 2009.

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