Positive data support the pound
Investors' risk appetite continues to grow in markets, stoked by data showing lower-than-expected inflation in the United States. According to FedWatch's tracker, the likelihood that the US Federal Reserve will raise interest rates by 50 basis points in December has risen from 50% last week to over 80%. Amidst these developments, positive data for the UK's GDP, industrial production and trade balance beat expectations and are providing additional support to the pound.
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