GBP Recovers From 2-Day Decline Ahead of GDP Tomorrow

The pound snapped a two-day drop versus the euro before a report tomorrow that analysts said will show the U.K. economy expanded at a slower pace in the three months through December.

Sterling strengthened against the dollar after sliding the most in six months at the end of last week. Britain’s gross domestic product increased 0.7 percent in the the fourth quarter after growing 0.8 percent in the three months through September, according to the median forecast of economists in a Bloomberg News survey.

The pound gained 0.1 percent to 82.94 pence per euro as of 7:35 a.m. London time after depreciating 1.5 percent in the previous two days. Sterling rose 0.2 percent to $1.6511 after falling 0.9 percent on Jan. 24, the steepest one-day decline since July 5.


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Mingze Wu

Mingze Wu

Currency Analyst at Market Pulse
Based in Singapore, Mingze Wu focuses on trading strategies and technical and fundamental analysis of major currency pairs. He has extensive trading experience across different asset classes and is well-versed in global market fundamentals. In addition to contributing articles to MarketPulseFX, Mingze centers on forex and macro-economic trends impacting the Asia Pacific region.
Mingze Wu