British Gross Domestic Product Rose by 0.7 percent, US Homes Unexpectedly Climbed

Britania sterling update, news which was welcomed by investors overnight figures showed Gross Domestic Product in the fourth quarter last year rose by 0.7 percent. Proving that Britain's growth trajectory still remains on track the largest contribution came from a rise in net trade, investment and consuming spending. Whilst such results should in the longer-term be supportive of a higher Great British Pound the Sterling has been unable to keep pace with a stronger US dollar overnight it opens marginally weaker this morning at 1.6665. In other currency moves the Sterling is stronger against both the Aussie (1.8592) and the Kiwi (2.0052)  

Meanwhile, In a positive sign for the US housing market figures overnight revealed the sale of new US homes unexpectedly climbed in January to their highest point in more than five years. Increasing at an annualized pace 9.6 percent demand improved in three of four regions. Providing a solid platform on which the US dollar could stretch its legs the Greenback is stronger against the Yen this morning at a rate of 102.408. During a session which favoured a repatriation of funds back into the world's safest haven's the Euro lost significant ground when valued against its US Counterpart sold off aggressively after Russia ordered troops to be combat ready amid ongoing political turmoil in the Ukraine. Weaker this morning the shared unit swaps hands at a rate of 1.3685.  

Source: ozforex
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