UK Public Sector Net Borrowing is making a surplus for the first time since 2002

The public sector borrowing surplus, excluding the public sector banks, rose to 0.2 billion pounds in July from the previous year's deficit of 0.3 billion pounds, the first surplus since 2002, the government said.

However, the deficit for the first four months of fiscal year 2017/2018 rose to 22.8 billion pounds from 20.9 billion dollars a year earlier. Government debt rose sharply to 87.5% of GDP compared to 83% in the previous year.

Following the data, the GBPUSD continued to decline from its European session high of 1.2889 to currently trade at the 1.2830 levels.