GBP/USD remains above 1.62

The pound headed for a second weekly gain versus the dollar before a government report analysts said will show U.K. economic growth accelerated in the third quarter.

Sterling was little changed against the euro after Bank of England Governor Mark Carney said yesterday the central bank will widen access to money-market operations and lower the cost of liquidity insurance. Gross domestic product expanded 0.8 percent compared with 0.7 percent in the previous three months, according to the median estimate of 40 economists in a Bloomberg News survey before the Office for National Statistics releases the data at 9:30 a.m. in London.

“Risks are to the upside for sterling,” said Adam Cole, head of Group-of-10 currency strategy at Royal Bank of Canada in London. “Our economists are looking for a GDP reading of 1 percent and you could make a case for it being stronger than that, given some of the survey data.”

Bloomberg

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