Forex Pros — Public sector net borrowing in the U.K. rose less-than-expected in May, official data showed on Tuesday.
In a report, the U.K. National Statistics Office said that public sector net borrowing, or the difference in value between public spending and income rose to GBP15.2 billion in May from GBP7.7 billion in April.
Economists had expected public sector net borrowing to increase to GBP16.5 billion in May.
Following the release of that data, the pound was up against the U.S. dollar, with GBP/USD edging 0.08% higher to trade at 1.6117.
Meanwhile, European stock markets were broadly higher. The FTSE 100 climbed 0.85%, the EURO STOXX 50 gained 1.15%, France’s CAC 40 added 1.2%, while Germany’s DAX was up 0.9%.
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