Macro Releases: GBP/USD

GBP/USD: UK GDP and Manufacturing Production

The British Pound depreciated against the US Dollar, following the UK GDP data release on Monday at 09:30 GMT. The GBP/USD exchange currency rate lost 22 pips or 0.17% during a minute, right after the release. The British Pound continued trading at the 1.2905 area against the US Dollar.

The Office for National Statistics released UK GDP data that came out lower-than-expected of negative 0.4% compare to forecasted 0.0%. Note, that the Manufacturing Production was released at the same time with the GDP.

"If there's a silver lining from the mounting signs that the uncertainty caused by Brexit is holding back GDP growth, it's that the economy could enjoy a decent rebound if a Brexit deal is agreed," Capital Economics' Chief UK Economist, Paul Dales, wrote in a research note published on Monday.


This overview can be used only for informational purposes. Dukascopy SA is not responsible for any losses arising from any investment based on any recommendation, forecast or other information herein contained.