The Great Britain pound was higher today versus the US dollar and the Japanese yen after a report showed that consumer confidence in the UK improved, while speculation that Greece made progress in the debt-swap discussion reduced demand for safer currencies.
The GfK Consumer Confidence rose from -33 to -29. Nick Moon, Managing Director of GfK NOP Social Research, commented:
The four point improvement in the Index this month is surprising in light of the fall in GDP and possible slide back into recession. However, despite this, a few rays of light have started to reach long-suffering consumers, including falling inflation and the recent reduction in energy prices.
GBP/USD rose from 1.5709 to 1.5784 and GBP/JPY advanced from 119.89 to 120.52 as of 11:04 GMT today.
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