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Sluggish UK GDP data see's the Pound take a dive

27th July 2017

Find out what the latest UK GDP figures mean for the economy and the effect it had on the Pound. Also find out which data we're watching next for clues about currency movements in Sterling and Euro.

UK GDP data released yesterday showed the pace of economic growth in the UK had started to slow. The data showed annual growth of 1.7% (below the 2% of previous months). There are also whispers in recent weeks of several government ministers favouring a transition deal with the EU to protect U.K. businesses. This is likely to give sterling and the UK economy a boost. After bottoming out at €1.1164 last night Sterling has moved back up towards €1.12. Looking ahead into the week we'll be watching German consumer confidence releases and UK Retail surveys and consumer confidence.

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