GBP/USD Trading Higher, CBI Business Optimism Survey Improves

GBP/USD is trading at 1.2568, up 0.0037. The pair is trading rangebound and just under the session highs. The Confederation of British Industry (CBI) business optimism index for the first quarter improved to 15 from a reading of negative 8 in previous report. The survey showed manufacturers expect demand to expand and expectations for output growth were at the best level since July of 2014.