GBP/USD remains below 1.3750 after UK GDP misses estimates with 0.4% in February

UK GDP arrived at 0.4% MoM in Feb vs. 0.6% expected.

Dhwani Mehta FXStreet

GBP/USD remains unfazed by the downbeat UK GDP.

The UK GDP monthly release showed that the economy expanded less-than-expected in February, arriving at 0.4% vs. 0.6% expectations and -2.9% previous.

Meanwhile, the Index of services (Jan) arrived at -1.9% 3M/3M vs. -2.4% prior.

The Cable keeps its recovery mode intact around 1.3735 on the UK growth numbers. The spot trades almost unchanged on the day.

About UK GDP

The Gross Domestic Product released by the National Statistics is a measure of the total value of all goods and services produced by the UK. The GDP is considered as a broad measure of the UK economic activity. Generally speaking, a rising trend has a positive effect on the GBP, while a falling trend is seen as negative (or bearish).

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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