GBP/USD at 1.5480 as U.K. Consumer Confidence Declines

The pound was little changed as a report showed U.K. consumer confidence unexpectedly declined this month.

Sterling rose to the highest level in more than two months against the U.S. currency yesterday. A sentiment index published by GfK NOP Ltd. fell to minus 27 from minus 26 in March, the London-based group said in a report today. Economists had forecast no change, according to the median of 19 estimates in a Bloomberg News survey. The Debt Management Office is scheduled to sell 500 million pounds ($774 million) of inflation-linked gilts maturing in 2062 in a so-called mini tender.

The pound traded at $1.5483 at 7:52 a.m. London time, after strengthening to $1.5546 yesterday, the most since Feb. 15. Sterling was at 84.47 pence per euro, after appreciating to 83.98 pence on April 26, the strongest since Jan. 24.

Bloomberg

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.