Pound v US dollar: GBP slips as markets draw mixed conclusions from UK growth data
GROWTH data has shown that the UK economy accelerated in the final quarter of 2017, beating forecasts on the quarter and showing a stronger-than-expected annualised growth rate.
The outlook remains uncertain, with the ONS saying: “The dominant services sector, driven by business services and finance, increased by 0.6 per cent compared with the previous quarter, although the longer-term trend continues to show a weakening in services growth.”
GBP/USD is now retreating from the strong gains made this morning due to a packed data calendar, a scheduled speech from President Donald Trump and a report claiming that the US leader attempted to fire special counsel Robert Mueller in June.
Mr Trump will make his address to the World Economic Forum (WEF) event in Davos at 2pm GMT this afternoon.
Markets are keeping clear of the US dollar until then.
GETTY
The pound US dollar slip came as UK economic growth unexpectedly picked up
The hope is that the President will show strong support for free trade and step away from the previous protectionist rhetoric used both during his campaign and since he became President.
However, analysts suggest we could see the Republican doubling down on claims made this week by Commerce Secretary Wilbur Ross.
How to get the best exchange rate
Tue, March 28, 2017
Exchange rate: How to get the best deal on your holiday money.
This include the change in US stance is in response to protectionist policies from other nations and merely represents the country’s attempt and get what it views as “fair”.
As well as the approach of data and Mr Trump’s address giving investors little incentive to buy the US dollar, news that the President attempted to fire the special prosecutor appointed to investigate allegations of his campaign’s collusion with Russia during the Presidential Election have prompted others in the markets to sell out of USD.
Pound v US dollar: GBP slips as markets draw mixed conclusions from UK growth data
GROWTH data has shown that the UK economy accelerated in the final quarter of 2017, beating forecasts on the quarter and showing a stronger-than-expected annualised growth rate.
The outlook remains uncertain, with the ONS saying: “The dominant services sector, driven by business services and finance, increased by 0.6 per cent compared with the previous quarter, although the longer-term trend continues to show a weakening in services growth.”
GBP/USD is now retreating from the strong gains made this morning due to a packed data calendar, a scheduled speech from President Donald Trump and a report claiming that the US leader attempted to fire special counsel Robert Mueller in June.
Mr Trump will make his address to the World Economic Forum (WEF) event in Davos at 2pm GMT this afternoon.
Markets are keeping clear of the US dollar until then.
GETTY
The pound US dollar slip came as UK economic growth unexpectedly picked up
The hope is that the President will show strong support for free trade and step away from the previous protectionist rhetoric used both during his campaign and since he became President.
However, analysts suggest we could see the Republican doubling down on claims made this week by Commerce Secretary Wilbur Ross.
How to get the best exchange rate
Tue, March 28, 2017
Exchange rate: How to get the best deal on your holiday money.
This include the change in US stance is in response to protectionist policies from other nations and merely represents the country’s attempt and get what it views as “fair”.
As well as the approach of data and Mr Trump’s address giving investors little incentive to buy the US dollar, news that the President attempted to fire the special prosecutor appointed to investigate allegations of his campaign’s collusion with Russia during the Presidential Election have prompted others in the markets to sell out of USD.
Pound v US dollar: GBP slips as markets draw mixed conclusions from UK growth data
GROWTH data has shown that the UK economy accelerated in the final quarter of 2017, beating forecasts on the quarter and showing a stronger-than-expected annualised growth rate.
The outlook remains uncertain, with the ONS saying: “The dominant services sector, driven by business services and finance, increased by 0.6 per cent compared with the previous quarter, although the longer-term trend continues to show a weakening in services growth.”
GBP/USD is now retreating from the strong gains made this morning due to a packed data calendar, a scheduled speech from President Donald Trump and a report claiming that the US leader attempted to fire special counsel Robert Mueller in June.
Mr Trump will make his address to the World Economic Forum (WEF) event in Davos at 2pm GMT this afternoon.
Markets are keeping clear of the US dollar until then.
GETTY
The pound US dollar slip came as UK economic growth unexpectedly picked up
The hope is that the President will show strong support for free trade and step away from the previous protectionist rhetoric used both during his campaign and since he became President.
However, analysts suggest we could see the Republican doubling down on claims made this week by Commerce Secretary Wilbur Ross.
How to get the best exchange rate
Tue, March 28, 2017
Exchange rate: How to get the best deal on your holiday money.
This include the change in US stance is in response to protectionist policies from other nations and merely represents the country’s attempt and get what it views as “fair”.
As well as the approach of data and Mr Trump’s address giving investors little incentive to buy the US dollar, news that the President attempted to fire the special prosecutor appointed to investigate allegations of his campaign’s collusion with Russia during the Presidential Election have prompted others in the markets to sell out of USD.
GETTY
GETTY
