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Mar 14 - 04:55 AM

GBP/USD - Drops On Unexpectedly Negative UK Jan GDP Print

By Robert Howard  —  Mar 14 - 03:19 AM

• Cable falls to 1.2927 intra-day low on unexpectedly negative UK Jan GDP

• Minus 0.1% vs plus 0.1% forecast. 1.2938 was Asia low (pre-UK GDP data)

• 1.2927 is six pips shy of Thursday's low (1.2914 was Wednesday's low)

• BoE is still expected to keep rates unchanged next week, despite GDP miss

• Fed also seen on hold next week. 1.2990 was 18-week high on Wednesday

• Schumer signals Democrat support for spending bill to avert govt shutdown

GBPUSD


(Robert Howard is a Reuters market analyst. The views expressed are his own)

Source:
London Stock Exchange Group | Thomson Reuters

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