• Home
  • Banking
  • Finance
  • Technology
  • FinTech
  • Business
  • Videos
  • Events
  • Awards
  • Magazine
placeholder-661-1.png
  • Home
  • Banking
  • Finance
  • Technology
  • FinTech
  • Business
  • Videos
  • Events
  • Awards
  • Magazine
placeholder-661-1.png

Sterling little changed by Britain’s 4.8% GDP growth in Q2

Sterling edged lower as analysts expected the Bank of England to make no imminent moves in its monetary policy after official data showed Britain’s economy grew in line with expectations in the second quarter. The Office for National Statistics said that the economy grew by 4.8% in the second quarter. Sterling was little changed and slipped 0.2% versus the dollar at $1.3835 by 1526 GMT after rising in the previous session. This interrupted a 3-day losing streak versus the greenback.

The pound traded just off 18-month highs touched and was 0.2% lower on the day. This is by changing hands at 84.83 pence. ING analysts said that it was unlikely that the GDP data would move the needle on the BoE story. Stuart Cole, head macro economist at Equiti Capital in London, said that for sterling, while the economic landscape continues to provide solid support, it does suggest further topside progress will be slow. He also added that it is quite likely that the pace of growth has already peaked. In recent weeks, sterling has outperformed. This is because the COVID cases have fallen and high vaccination rates allowed the British government to lift most of the rules.

YOU MAY ALSO LIKE

Strengthening Ties: China Urges Closer Economic Cooperation with Britain

Currency Volatility Expected to Persist as South Korea Faces Political and Economic Uncertainty

GBP investors will be looking for direction in forthcoming UK data releases. Jane Foley, head of FX strategy at Rabobank commented that, it is to gauge whether there is risk that the BoE could extend the hawkish element, further in the months ahead. Analysts said that the BoE tone was slightly hawkish last week, when its monetary policy committee voted 7-1 to maintain the pace of its government bond-buying.

Tags: BritainGDPSterling

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Search

No Result
View All Result

Recent News

Besi Raises Long-Term Financial Outlook Amid Rising Demand for Hybrid Bonding Chip Tools

Besi Raises Long-Term Financial Outlook Amid Rising Demand for Hybrid Bonding Chip Tools

Tesla’s Robotaxi Gamble in Austin Puts Future of Autonomous Vehicles to the Test

Tesla’s Robotaxi Gamble in Austin Puts Future of Autonomous Vehicles to the Test

Strengthening Ties: China Urges Closer Economic Cooperation with Britain

Strengthening Ties: China Urges Closer Economic Cooperation with Britain

Switzerland’s New Banking Reforms Restrict UBS’s Global Expansion Following Crises

Switzerland’s New Banking Reforms Restrict UBS’s Global Expansion Following Crises

Gemini Quietly Files for U.S. IPO as Crypto Firms Capitalize on Market Momentum

Gemini Quietly Files for U.S. IPO as Crypto Firms Capitalize on Market Momentum

Deadline Extended for Elon Musk in SEC Civil Suit Over Twitter Stake Disclosure

Deadline Extended for Elon Musk in SEC Civil Suit Over Twitter Stake Disclosure

Global Business Review is a online print magazine focusing on the updates and information about on emerging markets, Finance, Banking, Technology. Global Business Review provides news, features, analysis, commentary, and interviews from industry across the globe.

Recent News

Besi Raises Long-Term Financial Outlook Amid Rising Demand for Hybrid Bonding Chip Tools

Tesla’s Robotaxi Gamble in Austin Puts Future of Autonomous Vehicles to the Test

Strengthening Ties: China Urges Closer Economic Cooperation with Britain

Switzerland’s New Banking Reforms Restrict UBS’s Global Expansion Following Crises

Gemini Quietly Files for U.S. IPO as Crypto Firms Capitalize on Market Momentum

Categories

  • Banking
  • Business
  • Events
  • Finance
  • Blogs
  • Fintech
  • Forex
  • Insurance
  • Technology
  • Videos

Social Media

COPYRIGHT © 2020-2025 GLOBAL BUSINESS REVIEW MAGAZINE LLC - ALL RIGHTS RESERVED

  • About Us
  • Contact Us
  • Advertise With Us
  • Privacy Policy
  • Disclaimer
  • Terms & Conditions
No Result
View All Result
  • Home
  • Banking
  • Finance
  • Technology
  • FinTech
  • Business
  • Videos
  • Events
  • Awards
  • Magazine

Copyright © 2025 Global Business Review Magazine - All Rights Reserved.