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GBP/USD not so impressed by UK data this morning

That batch of UK economic data noted here a couple of headlines ago has now been released. The UK economy grew by just 0.1% in February, as was the forecast. The latest industrial and manufacturing numbers were better than forecast and quite markedly so, which is quite positive. Construction output fell through and the Trade balance remained heavily in the red. The UK is running a visible trade deficit each month of something over £14 billion at the moment. The reaction in the pound has been minimal to all this data so far and that is because it has not really surprised the markets. The GBP/USD is also struggling due to pressure from the dollar and it looks like this data will not change that, but it has helped to keep some downside momentum in the EUR/GBP since this time yesterday. The GBP/USD is currently trading at 1.2538

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