Here is what you need to know on Friday, August 11:
Pound Sterling stays resilient against its major rivals early Friday after the data from the UK showed that the economy avoided stagnation in the second quarter. Following Wednesday's volatile action on US inflation data, the US Dollar Index holds steady as investors await Producer Price Index (PPI) figures for July. The US economic docket will also feature the University of Michigan's Consumer Sentiment Survey for August.
Gross Domestic Product (GDP) of the UK expanded 0.2% on a quarterly basis in the second quarter. Annualized GDP grew 0.4% in the same period, higher than the market expectation and the first quarter growth of 0.2%. Other data from the UK revealed that Industrial Production expanded by 1.8% on a monthly basis June, compared to analysts' estimate of 0.1%, while Manufacturing Production grew by 2.4%. Following these upbeat readings, GBP/USD trades in positive territory slightly above 1.2700 in the European session.
UK Preliminary GDP unexpectedly grows 0.2% in Q2 2023.
Pound Sterling price today
The table below shows the percentage change of Pound Sterling (GBP) against listed major currencies today. Pound Sterling was the strongest against the Swiss Franc.
| USD | EUR | GBP | CAD | AUD | JPY | NZD | CHF | |
| USD | -0.09% | -0.28% | -0.06% | -0.25% | -0.04% | 0.04% | 0.06% | |
| EUR | 0.09% | -0.18% | 0.03% | -0.15% | 0.05% | 0.10% | 0.15% | |
| GBP | 0.27% | 0.19% | 0.20% | 0.03% | 0.23% | 0.28% | 0.34% | |
| CAD | 0.09% | -0.01% | -0.20% | -0.15% | 0.03% | 0.08% | 0.14% | |
| AUD | 0.25% | 0.12% | -0.06% | 0.16% | 0.16% | 0.25% | 0.27% | |
| JPY | 0.05% | -0.02% | -0.21% | 0.00% | -0.14% | 0.10% | 0.11% | |
| NZD | -0.02% | -0.10% | -0.27% | -0.07% | -0.24% | -0.04% | 0.07% | |
| CHF | -0.06% | -0.15% | -0.34% | -0.12% | -0.31% | -0.10% | -0.06% |
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Euro from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent EUR (base)/JPY (quote).
After the US annual Consumer Price Index (CPI) and Core CPI data for July came in slightly below market expectations, the US Dollar weakened against its rivals, with the US Dollar Index (DXY) dropping to a fresh weekly low below 102.00 in the early American session. As Wall Street's main indexes erased strong opening gains later in the session, the USD managed to erase its losses. Early Friday, the DXY holds steady at around 102.50. Meanwhile, US stock index futures trade modestly higher and the 10-year US Treasury bond yield holds comfortably above 4.1%.
Following a spike above 1.1050 on Thursday, EUR/USD lost its traction and closed the day virtually unchanged. The pair clings to small daily gains at around 1.1000 on Friday.
USD/JPY extended its uptrend into a fourth straight day on Thursday and registered its highest daily close in a month near 144.70. The pair stays in a consolidation phase in the European session on Friday and fluctuates in a tight channel slightly above 144.50.
Gold price rose above $1,930 in the American session on Thursday but made a sharp U-turn, ending the day in negative territory near $1,910. XAU/USD edged higher toward $1,920 on Friday as the 10-year US yield holds steady.
Bitcoin advanced toward $30,000 after US inflation data but failed to preserve its momentum. BTC/USD stays on the back foot and trades below $29,500 in the European morning. Ethereum continues to move sideways near $1,850 for the third straight day on Friday
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended content
Editors’ Picks
AUD/USD: Stuck within the range
AUD/USD left behind Tuesday’s strong pullback and regained upside impulse on Wednesday, advancing well north of 0.6500 the figure despite the late rebound in the Greenback. Investors will now closely follow the release of the always relevant Australian jobs report.
EUR/USD: The 1.1400 region holds the downside
EUR/USD came under late selling pressure and receded to the area of multi-day lows around 1.1460 following the firm bounce in the Greenback in the wake of the Fed’s interest rate decision and the hawkish tilt at Powell’s press conference. US markets will be closed on Thursday due to the Juneteenth holiday.
GBP/USD weakens further, confronts 1.3400
GBP/USD is currently under increasing selling pressure, testing the 1.3400 support level on Wednesday, amidst a robust recovery in the Greenback following the Fed's decision to maintain rates and Chief Powell's hawkish remarks during his press conference.
Ripple Price Prediction: XRP targets $2.65 signaling potential technical breakout
Ripple (XRP) offers signs of a bullish reversal after extending losses 9% from its recent highs at $2.34. Meanwhile, the cross-border money transfer token is trading around $2.15, while sentiment remains relatively calm in the broader crypto market.
In the Eurozone, inflation is also a monetary phenomenon
Monetary aggregates continue to be closely monitored by the European Central Bank (ECB), a sign that, despite the passage of time and the increasing complexity of financing circuits, quantitative theory remains relevant.
The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.