0834 GMT - Sterling rises against the euro and the dollar after preliminary Q3 GDP data came in better than expected at 2.2 percent year-on-year and 0.6 percent quarter-on-quarter.
- Pound rises to $1.4300 after the figures compared with $1.4282 just before. Against the euro sterling rises to 62.48 pence per euro compared with 62.56.
- According to a poll the figures had been forecast to show a 0.4 percent quarter-on-quarter rise and a 2.0 percent year-on-year rise.
- They are important because sterling has been strongly supported in recent months by a widespread belief that the British economy is outperforming the U.S. and the eurozone in the global economic slowdown.