The pound rose during a light week of trading during the holiday season, although data showed that the UK economy grew by only 0.1% month-on-month in the third quarter. Alex Kerr, a macroeconomist at KITU, said in a report that although the growth rate has not been revised, “the pattern of economic growth is healthier than previously estimated, and it is less dependent on the public sector.” After the data was released, the pound rose 0.3% on the same day to an intraday high of $1.3418. It was reported at $1.3394 before the data was released. EUR/GBP fell to an intraday low of £0.8735, which was reported at £0.8744 before the data was released.

The pound rose during a light week of trading during the holiday season, although data showed that the UK economy grew by only 0.1% month-on-month in the third quarter. Alex Kerr, a macroeconomist at KITU, said in a report that although the growth rate has not been revised, “the pattern of economic growth is healthier than previously estimated, and it is less dependent on the public sector.” After the data was released, the pound rose 0.3% on the same day to an intraday high of $1.3418. It was reported at $1.3394 before the data was released. EUR/GBP fell to an intraday low of £0.8735, which was reported at £0.8744 before the data was released.