GBPUSD reaches one-year high on positive UK and negative US economic data

The British pound (Symbol: GBPUSD) floated to a one-year high, driven by favourable economic data from both the UK and the US. The pair opened the week with positive momentum as forex traders responded to unexpected growth in the UK and easing inflation in the US.

The economic growth in the UK surprised markets with an expansion and then following a flat performance later. This growth, amid the ongoing political changes in the UK, signalled resilience in the British economy, boosting investor confidence in the pound.

Read more to understand how British pound is affected.