Forexpros – Public sector net borrowing in the U.K. posted a smaller-than-expected surplus in July, 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, posted a surplus of GBP1.8 billion in July, compared to a deficit of GBP12.2 billion in June, whose figure was revised from GBP12.1 billion.
Analysts had expected U.K. public sector net borrowing to post a surplus of GBP2.5 billion in July.
Following the release of that data, the pound held on to gains against the U.S. dollar, with GBP/USD adding 0.35% to trade at 1.5765.
Meanwhile, European stock markets remained broadly higher. London’s FTSE 100 rose 0.55%, the EURO STOXX 50 gained 0.8%, France’s CAC 40 advanced 0.8%, while Germany’s DAX added 0.6%.
Forexpros
