Forex Pros – Public sector net borrowing in the U.K. rose more-than-expected in April, 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 GBP 7.7 billion in April, after jumping to GBP15.6 billion in March, whose figure was revised down from GBP16.4 billion.
Economists had expected public sector net borrowing to increase to GBP 4.8 billion in April.
Following the release of that data, the pound was up against the U.S. dollar, with GBP/USD easing up 0.09% to hit 1.6136.
Meanwhile, European stock markets were higher. The FTSE 100 climbed 0.45%, the EURO STOXX 50 gained 0.65%, France’s CAC 40 added 0.55%, while Germany’s DAX was up 0.7%.
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