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GBP/USD edges lower following disappointing UK growth data
That whole bunch of UK data has just been released. The monthly GDP data was the highlight of all that and it was expected to show a modest rebound in July. GDP was forecast to rise by 0.2%, following no gain the previous month. It has actually not risen at all. The other data has shown a much greater than forecast fall in Manufacturing and industrial output. The trade balance has widened to above £20 billion in terms of the visible balance. The reaction in the Pound saw it dip back underneath the 1.31 handle when seeing all this, bit in real terms so far it has not fallen by much yet. However, make no mistake none of this data was encouraging either way you choose to look at it. The GBP/USD is currently trading at 1.3097
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