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Sterling falls as UK economy contracts by more-than-expected in July

In particular, I'd keep an eye out on EUR/GBP as the pair threatens a push past its 100-day moving average (red line) especially with rate hike odds firming up for the ECB going into tomorrow:The data here highlights the biggest monthly UK GDP decline since December 2022, with all sectors of the economy faltering. The surprise is of course the services sector, which contributed the largest fall, as it comes amid a time when tourism and business activity should pick up amid the summer time.All of... Read More

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Content Topics

Sterling

Falls

Economy

Contracts

Than

Expected

July

More than expected

Forex

Posted: Sep 13 2023, 06:13

Author Name: forexlive

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