The GBP/USD exchange rate was flat yesterday after disappointing economic data from the US and growing fears of a no-deal Brexit.
The dollar was pressured by February’s Chicago Fed National Activity Index figure, which slipped to a disappointing -0.29. This added to growing fears of a slowing US economy and caused the dollar to weaken against the pound late on Monday.
Amid worries about the US economy, Charles Evans, President of the Chicago Federal Reserve, downplayed the dangers of a recession, stating that “I look at the nature of the U.S economy, I look at the labour market, it’s strong, the consumer continues to be strong.”
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