UK Growth Beats Estimates, GBP/USD Sees Modest Gains Amid Dollar Pullback

The GBP/USD currency pair has been rising modestly on Wednesday, but remains near its three-month low after falling over 2% in September.

This move higher comes as a result of stronger-than-expected UK data, which shows that the country's GDP was upgraded to 0.5% in the second quarter, exceeding initial estimates.

The Office for National Statistics reported that Q2 GDP growth was better than expected, with consumers continuing to spend despite increased oil prices and inflationary pressures.