Christopher Nye
on October 12th, 2022 Sterling still weaker against the dollar following yesterday’s steep fall. Against the euro, the pound is also weaker.
We’ve just had lots of interesting data releases from the UK this morning, with the key one being GDP MoM for August. UK GDP was lower than expected contracting by 0.3% in August. following a downwardly revised 0.1% rise in July. The main cause of the fall in GDP was production, which fell by 1.8%.
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