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UK data in the spotlight at 6am GMT this morning- GBP/USD in focus
Yesterday afternoon the GBP/USD fell as low as 1.3492, but then rebounded into the European close and later ended the US session at 1.3512. The range seen so far this morning has been covered by 1.3496 and 1.3519.
At 6am GMT we get a whole raft of UK economic data, the headline of which is surely the latest monthly GDP figure. That is expected to show growth in July running at close to the 0.3% rise seen in June. The 3 month average is forecast at 0.3% down from 0.4% in the previous quarter. That translates to an annualised rate of 1.1%, down from 1.2%.
The other data due covered industrial and manufacturing production, trade balances and construction output, We will revert as soon as possible with a breakdown over view of the impact of all the data, once it hits the screens. The GBP/USD is right now at 1.3508
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