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GBP/USD yet to react to tepid UK data
That whole host of UK economic data mentioned a little earlier has now hit the screens. The takeaway from all this is not very positive. Many of the data points missed on forecasts and and the GDP reading in Q3 was tepid to say the least. The trade deficit widened and industrial and manufacturing was much weaker than expected. The one bright spot was an increase in business investment. Ahead of this, the GBP/USD has pressed a little higher, to set a fresh session high at 1.2690. The immediate reaction to all the data has been rather underwhelming to be honest. The Pound has not really moved much at all yet. Perhaps the robots are still digesting all the news? We shall see on that, but on the face of it, perhaps the Pound might rebound a bit more, but only if it brushes aside any negativity in these numbers. The GBP/USD is currently trading at 1.2678
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