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).
Author
Dhwani Mehta
FXStreet
Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.
