Ready to Get Started?
Start here. Join over 3M Libertex users around the world!
GBP/USD falls as UK GDP contracts by more than forecast
The raft of UK economic data has just been released. The highlight of that being the latest monthly GDP data, which has fallen by more than expected, contracting by 0.3%. The industrial and manufacturing numbers were weaker than expected and all missed on the downside. The pound has immediately reacted by falling immediately on the news. The trade balance showed a wider deficit too and so none of this is good news. The low seen just then on the GBP/USD was set at 1.2527 but it could be at risk of a break of 1.25 given the weakness of this data. We shall have to see on that. This news has also lifted the EUR/GBP back above 0.8600 again but more on that a little later on. The GBP/USD is currently trading at 1.2529
Market News
All News-
GBP/USD still has eyes on 1.3434
The Pound performed pretty well yesterday and continued to press higher from an earlier session low at 1.3203, seen just as the European markets...
-
USD/JPY steady in subdued Asian trading today
Yesterday afternoon the dollar hit session lows leading into the final 4pm London fix of the week and that saw the USD/JPY fall back to 141.90. One...
-
Bitcoin still looking on
Pretty much all this week BTC has just not been at the races, indeed that was an observation made the week before and it was the same then too. So...
