UK GDP rebounds 0.5% MoM in February vs. 0.1% expected
- UK GDP expanded 0.5% MoM in February, beating estimates.
- GBP/USD keeps range near 1.3000 after the UK economic data.
The UK economy expanded in February, with the Gross Domestic Product (GDP) rebounding 0.5% after recording no growth in January, the latest data published by the Office for National Statistics (ONS) showed on Friday. The market forecast was for a 0.1% growth in the reported period.
Meanwhile, the Index of services (February) came in at 0.6% 3M/3M versus January’s 0.4%.
Other data from the UK showed that monthly Industrial and Manufacturing Production jumped by 1.5% and 2.2%, respectively, in February. Both readings better market expectations.
Market reaction to the UK data
The upbeat UK economic data failed to inspire the Pound Sterling. At the press time, GBP/USD is trading 0.20% higher on the day near 1.3000.
British Pound PRICE Today
The table below shows the percentage change of British Pound (GBP) against listed major currencies today. British Pound was the strongest against the Australian Dollar.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | -0.59% | -0.16% | -0.42% | -0.06% | 0.34% | -0.62% | -0.03% | |
| EUR | 0.59% | 0.41% | 0.15% | 0.50% | 0.92% | -0.07% | 0.54% | |
| GBP | 0.16% | -0.41% | -0.22% | 0.10% | 0.51% | -0.48% | 0.13% | |
| JPY | 0.42% | -0.15% | 0.22% | 0.31% | 0.76% | -0.16% | 0.43% | |
| CAD | 0.06% | -0.50% | -0.10% | -0.31% | 0.40% | -0.56% | 0.04% | |
| AUD | -0.34% | -0.92% | -0.51% | -0.76% | -0.40% | -0.96% | -0.35% | |
| NZD | 0.62% | 0.07% | 0.48% | 0.16% | 0.56% | 0.96% | 0.59% | |
| CHF | 0.03% | -0.54% | -0.13% | -0.43% | -0.04% | 0.35% | -0.59% |
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 British Pound from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent GBP (base)/USD (quote).
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.
