The pound surged after the U.K. economy grew at double the pace forecast by economists in the third quarter and the nation’s credit outlook was raised at Standard & Poor’s.
Sterling rose against all 16 of its most-traded peers, appreciating 1.1 percent against the euro. Gross domestic product rose 0.8 percent in the three months through September, the Office for National Statistics said in London today. Economists forecast a 0.4 percent gain, according to the median of 35 predictions in a Bloomberg News survey. Gilts slumped.
Sterling rose against all 16 of its most-traded peers, appreciating 1.1 percent against the euro. Gross domestic product rose 0.8 percent in the three months through September, the Office for National Statistics said in London today. Economists forecast a 0.4 percent gain, according to the median of 35 predictions in a Bloomberg News survey. Gilts slumped.
