Confidence index of service companies in the UK rose to its highest level. This data was published by the Confederation of British Industry. Thus, an indicator of consumer businesses (hotels, restaurants) optimism grew to 53 points, which is the highest result since the beginning of the tracking of index in 1998.
It should be noted that unemployment in the UK has been steadily decreasing, while GDP growth is accelerating. Thus, in the second quarter is expected the increase of the country's economy by 0.9%, against 0.8% in the first quarter of 2014. The negative factor may become the declaration of independence of Scotland, where a referendum on the independence of the country will be held in September.
We maintain a long-term positive outlook for the British pound.
Wish you the profits!
FXFINPRO Capital Analytical department.