Trade GBP on economic news

Trade GBP on economic news

Brexit keeps looming over the UK economy creating uncertainty for the British pound. British economic growth rebounded in the second quarter as retail sales and construction benefited from a warm weather boost. However, problems remain. For example, the nation’s manufacturing sector slumped into recession. Recently Britain has started publishing GDP growth figures every month. These data will have a great impact on the Bank of England’s monetary policy and the GBP exchange rate.

• If GDP growth exceeds forecast, the GBP will gain.

• If GDP growth disappoints, the GBP will fall.

Check the economic calendar

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On Tuesday, the evergreen buck dived because the common currency bounced off and the UK pound managed to ascend to the day’s maximums reacting to reports that British Prime Minister Theresa May is going to take control of Brexit talks…

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