UK GDP rises 0.1% MoM in February, as expected
- UK GDP expanded 0.1% MoM in February vs. 0.1% estimate.
- GBP/USD remains below 1.2650 after the UK data.
The UK economy expanded 0.1% in February, having rebounded 0.3% in January, the latest data published by the Office for National Statistics (ONS) showed on Friday. The market consensus was for an expansion of 0.1% in the reported period.
Meanwhile, the Index of services (February) came in at 0.2% 3M/3M vs. January’s 0% print.
Other data from the UK showed that Industrial Production and Manufacturing Production rose 1.1% and 1.2%, respectively, on a monthly basis, in February.
Separately, the UK Goods Trade Balance came in at GBP-14.212 billion MoM in February vs. GBP-14.50B expected and GBP-14.097 previous.
Market reaction to the UK data
The Pound Sterling is feeling the pull of gravity on the mixed UK economic data. At the press time, GBP/USD is trading 0.10% lower on the day at 1.2535.
Pound Sterling price today
The table below shows the percentage change of Pound Sterling (GBP) against listed major currencies today. Pound Sterling was the weakest against the US Dollar.
| Â | USD | EUR | GBP | CAD | AUD | JPY | NZD | CHF |
| USD | Â | 0.19% | 0.13% | 0.17% | 0.27% | 0.02% | 0.22% | 0.15% |
| EUR | -0.20% | Â | -0.06% | -0.03% | 0.08% | -0.18% | 0.02% | -0.05% |
| GBP | -0.14% | 0.06% | Â | 0.03% | 0.14% | -0.12% | 0.08% | 0.00% |
| CAD | -0.17% | 0.03% | -0.01% | Â | 0.10% | -0.15% | 0.05% | -0.02% |
| AUD | -0.27% | -0.08% | -0.14% | -0.11% | Â | -0.26% | -0.06% | -0.13% |
| JPY | -0.02% | 0.17% | 0.11% | 0.15% | 0.24% | Â | 0.20% | 0.12% |
| NZD | -0.22% | -0.02% | -0.08% | -0.05% | 0.06% | -0.20% | Â | -0.07% |
| CHF | -0.15% | 0.05% | -0.01% | 0.03% | 0.15% | -0.12% | 0.07% | Â |
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).
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.
