GBP/USD little changed after UK final GDP revised up to 1.3% QoQ in Q4
|- UK GDP rises 1.3% QoQ in Q4 vs. 1.0% expected.
- UK Current Account deficit stood at GBP26.3 B in Q4.
- GBP/USD remains unfazed by upbeat UK data, holds above 1.3700.
The final reading of the fourth quarter 2020 UK GDP came in at 1.3% QoQ vs. 1.0% expected and 1.0% last while on an annualized basis the figure stood at -7.3% vs. -7.8% expected and -7.8% seen previously.
The Current Account numbers for Q4 came in at GBP-26.3 B versus GBP-34 B expected and GBP -14.275 B prior.
Meanwhile, the Total Business Investment arrived at 5.9% QoQ in Q4 vs. 1.3% previous and 1.3% expectations.
The Cable remains unfazed above 1.3700, in reaction to the upbeat UK economic data. The spot was last seen trading at 1.3724, still down 0.12% on the day.
About UK GDP
The Gross Domestic Product released by the National Statistics is a measure of the total value of all goods and services produced by the UK. The GDP is considered as a broad measure of the UK economic activity. Generally speaking, a rising trend has a positive effect on the GBP, while a falling trend is seen as negative (or bearish).
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