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UK GBP data significantly beats estimates- GBP/USD yet to react positively to the news
That whole raft of UK data has just been released and the headline GDP data has beaten estimates. It was forecast to rise by 0.1%. It has actually risen by 0.5%. Both industrial and manufacturing has also significantly beaten forecasts too. So, this was all positive data here this morning and that should support the Pound, not just versus the dollar but also versus the Euro. The said, because the EUR/USD is now lower, the GBP/USD has not actually risen, where you might have expected it to do so. Perhaps it will later, but for now its is caught in that downdraught in the Euro. The GBP/USD is right now at 1.2988
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