British Pound drifts away from 1.3500 as weak UK Industrial Production offsets bright GDP data

British Pound drifts away from 1.3500 as weak UK Industrial Production offsets bright GDP data

The British Pound (GBP) treads water against the US Dollar (USD), trading practically flat, a few pips below the 1.3500 level on Thursday’s early London session. The bright UK second quarter Gross Domestic Product (GDP) release has been offset by downbeat factory output figures, while the US Dollar keeps wavering within range, as Federal Reserve (Fed) monetary tightening expectations shrink. Data released by the UK National Statistics Office rev…

Pound Sterling Gains On Yen As UK Q2 GDP Beats Expectations

BitcoinWorld Pound Sterling Gains on Yen as UK Q2 GDP Beats Expectations The British Pound strengthened against the Japanese Yen in early trading on Thursday, following the release of UK Q2 GDP data that came in above market forecasts, signaling unexpected resilience in the UK economy. UK GDP Data and Market Reaction The Office for National Statistics reported that the UK economy expanded by 0.6% in the second quarter, surpassing the 0.5% conse…

GBP/USD Forecast: Stays weak below 1.3500 ahead of UK GDP

The GBP/USD pair trades with a negative bias for the second consecutive day and trades below the 1.3500 psychological mark during the Asian session on Thursday amid modest US Dollar (USD) strength. The downside potential, however, seems limited as traders might opt to wait for the UK macro data dump, including the Q2 GDP report, before placing directional bets. In the meantime, inflation risks stemming from volatile oil prices underpin prospects…