Sterling edges up after in-line UK GDP data

viernes 24 de octubre de 2014 04:43 GYT
 

LONDON Oct 24 (Reuters) - Sterling rose to the day's high against the dollar on Friday, after data showed the British economy expanding in line with expectations in the third quarter and wrong-footing some who had positioned for a softer reading.

Gross domestic product expanded by 0.7 percent in the July-September period, compared with 0.9 percent in the second quarter. Growth slowed as services output growth eased and manufacturing expanded at its weakest pace in 18 months.

Sterling rose 0.15 percent to $1.6056 from around $1.6032 beforehand.

The euro edged lower to 78.82 pence, down from 78.90 pence before the data was released.

Britain's FTSE 100 briefly extended losses and was down 0.3 percent at 6,396.78 points by 0837 GMT. (Reporting by Anirban Nag and Atul Prakash, editing by Nigel Stephenson)