GBP rallied in response to expected Q4 GDP - BBH

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Jan 28, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    FXStreet (Delhi) – Research Team at BBH, notes that the sterling rallied in response, it appears, to an as expected Q4 GDP print.

    Key Quotes

    “The 0.5% expansion compares with 0.4% in Q3. Although many, like us, feared the UK economy lost momentum in the second half of last year, it is not to be found in today's report. However, the slowing is evident is in the year-over-year pace. It slowed to 1.9% from 2.1%, the slowest pace in three years. Moreover, growth was confined to services, with the other sectors contracting.

    Sterling's gains today leave it within yesterday's ranges. In fact, if today's high holds near $1.4345, it is the second day of lower highs. A two-week high was recorded on Tuesday just below $1.4370. The intraday technicals warn that if sterling has not peaked for the day, it has likely come very close."
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