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On Friday, the British pound sagged versus the greenback following the publication of dismal UK economic growth data. Meanwhile, hopes for an upcoming American tax overhaul kept lending support to the US currency.
The currency pair GBP/USD slumped 0.43% being worth 1.3383, re-approaching Thursday's two-week minimums of 1.3344.
As the UK Office for National Statistics informed on Friday, the British GDP expanded 1.5% during the second quarter, year-over-year, descending from the prior estimate of 1.7%.
On a quarterly basis, the British economy went up 0.3% by June, which is in line with financial experts' expectations.
According to a separate report, the country’s current account deficit extended to about £23.2 billion in the second quarter versus £22.3 billion of the first quarter this year, whose figure was updated from a previously estimated deficit of approximately £16.9 billion.
During the daily press briefing of Andres Manuel Lopez Obrador, it was announced that Mexico will receive 1.4 million doses of the vaccine by the end of January. Is that optimistic enough for the peso?
The US unemployment claims are announced on Thursday at 15:30 MT time.
The Canadian monthly GDP is announced on Wednesday at 15:30 MT time.
Jump in to know the key market events and trading ideas for this week!
The Canadian central bank will make a monetary policy report and announce interest rates on Wednesday, January 20, at 17:00 MT time. Also, the BOC press conference will be held later.
USD’s rally takes a pause, while riskier assets are modestly rising.
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