- Quarterly GDP for the UK expanded 0.6% in Q2 vs. 0.6% forecast.
- UK GDP arrived at 0% MoM in June vs. 0% estimate.
- GBP/USD keeps gains above 1.2800 on the UK GDP data.
The UK economy expanded 0.6% QoQ in the three months to June, having reported a 0.7% growth in the first quarter of 2024. The market consensus was for +0.6% in the reported period.
The UK GDP rose 0.9% YoY in Q2 vs. 0.9% expected and 0.3% booked in Q1.
The UK GDP came in at 0.% MoM in June, as against a 0.4% increase reported in May, matching the estimated 0% print.
Meanwhile, the Index of services (December) arrived at 0.8% 3M/3M vs. 1.1% prior.
Other data from the UK showed that Industrial Production and Manufacturing Production increased by 0.8% and 1.1%, respectively, on a monthly basis in June. Both indicators outpaced estimates.
Separately, Total Business Investment declined 0.1% on a quarterly basis in the second quarter of 2024.
Following the UK GDP data releases, the country’s Finance Minister Rachel Reeves said, “the new government is under no illusion as to scale of the challenge we have inherited.”
Market reaction to the UK data
UK GDP and industrial figures failed to move the needle around the Pound Sterling market. At the time of press, GBP/USD is trading 0.17% higher on the day at 1.2845.
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 Swiss Franc.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | 0.00% | -0.14% | -0.10% | -0.03% | -0.28% | 0.02% | -0.05% | |
| EUR | -0.01% | -0.16% | -0.13% | -0.04% | -0.37% | -0.16% | -0.05% | |
| GBP | 0.14% | 0.16% | 0.04% | 0.12% | -0.21% | 0.00% | 0.20% | |
| JPY | 0.10% | 0.13% | -0.04% | 0.06% | -0.19% | -0.01% | 0.16% | |
| CAD | 0.03% | 0.04% | -0.12% | -0.06% | -0.25% | -0.11% | 0.08% | |
| AUD | 0.28% | 0.37% | 0.21% | 0.19% | 0.25% | 0.20% | 0.40% | |
| NZD | -0.02% | 0.16% | -0.01% | 0.01% | 0.11% | -0.20% | 0.20% | |
| CHF | 0.05% | 0.05% | -0.20% | -0.16% | -0.08% | -0.40% | -0.20% |
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).
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
EUR/USD retreats from fresh multi-year highs, holds above 1.1000
EUR/USD neared 1.1150 in the European session on Thursday, shedding roughly 100 pips afterwards. The Euro holds on to solid gains amid broad US Dollar weakness, after US President Trump unveiled aggressive tariffs on the "Liberation Day." Markets await mid-tier US data releases.
GBP/USD surges to multi-month tops near 1.3200 ahead of US data
GBP/USD paused its rally after briefly surpassing the 1.3200 mark, yet holds on to most of its intraday gains. The US Dollar plunged to a fresh YTD low amid worries about a tariff-driven US economic slowdown, lifting Fed rate cut bets and weighing on the Greenback. The focus now remains on the US data for further impetus.
Gold retreats below $3,100 from all-time peak
Gold price extends its steady intraday pullback from the all-time peak touched this Thursday, and pierces the $3,100 mark in the European session. Bullish traders opt to take some profits off the table and lighten their bets around the commodity amid slightly overbought conditions.
SOL is the winner as Solana chain turns into battleground for meme coin launchpad and DEX
Solana (SOL) gains nearly 2% in the last 24 hours and trades at 118.28 at the time of writing on Thursday. A Decentralized Exchange (DEX) and a meme coin launchpad built on the Solana blockchain have waged a war for users and compete for the trade volume on the chain.
Trump’s “Liberation Day” tariffs on the way
United States (US) President Donald Trump’s self-styled “Liberation Day” has finally arrived. After four straight failures to kick off Donald Trump’s “day one” tariffs that were supposed to be implemented when President Trump assumed office 72 days ago, Trump’s team is slated to finally unveil a sweeping, lopsided package of “reciprocal” tariffs.
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.