UK PPI data higher than expected

Friday, 6 May 2011 02:39

UK Producer Price Index (PPI) data showed a turn towards the good side as Input prices were release at 2.6%, 0.9% more than the estimated value (1.7%).  Although lower than the previous month's 3.8%, the Streling showed positive attitute and gained both against the Dollar as well as the Euro.

GBP/USD traded at 1.6396 after the annoucement and is currently trading even higher at 1.6407

EUR/GBP fell to 0.8850