Intra-day Market Moving News and Views
30 Jun 2015 08:42GMT
GBP/USD - ...... Although cable edged lower in tandem with euro and fell from Asian high of 1.5737 to 1.5693 in European morning, price briefly jumped to 1.5745 after release of upbeat yearly revision of UK Q1 GDP and narrower-than-expected trade deficit.
However, lack of follow-through buying capped gain there and price then settled around 1.5720.
The U.K.'s Office for National Statistics said on Tuesday that UK GDP expanded at a seasonally adjusted rate of 0.4% in the first quarter, up from a previous estimate of 0.3% and in line with expectations.
Annualized GDP grew at a rate of 2.9% in the first quarter, up from an initial forecast of 2.4% and beating expectations for a 2.5% increase.
In a separate report, ONS said that the U.K. current account recorded a seasonally adjusted deficit of 26.5 bln pounds in the first quarter, narrowing from a deficit of 28.9 bln in the fourth quarter, whose figure was revised from a deficit of 25.3 bln pounds.
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