- UK GDP rate rose 0.% MoM in November vs. 0.2% forecast.
- GBP/USD remains unfazed below 1.2800 on upbeat UK GDP data.
The UK economy returned to expansion in November, rising 0.3% after contracting 0.3% in October, the latest data published by the Office for National Statistics (ONS) showed on Friday. The market had forecast an expansion of 0.2% in the reported period.
Meanwhile, the Index of services (November) arrived at 0% 3M/3M vs. October’s -0.1% reading and 0.2% expectations.
Market reaction to the UK GDP report
The upbeat UK GDP data seems to have failed to move the needle around the Pound Sterling. At the press time, the pair is up 0.07% on the day to trade at 1.2770.
Pound Sterling price today
The table below shows the percentage change of Pound Sterling (GBP) against listed major currencies today. Pound Sterling was the strongest against the Swiss Franc.
| USD | EUR | GBP | CAD | AUD | JPY | NZD | CHF | |
| USD | 0.05% | 0.01% | -0.04% | -0.05% | 0.09% | -0.02% | 0.16% | |
| EUR | -0.05% | -0.04% | -0.10% | -0.12% | 0.03% | -0.09% | 0.11% | |
| GBP | -0.02% | 0.04% | -0.06% | -0.07% | 0.07% | -0.05% | 0.15% | |
| CAD | 0.04% | 0.08% | 0.05% | -0.03% | 0.12% | 0.02% | 0.19% | |
| AUD | 0.05% | 0.11% | 0.07% | 0.02% | 0.14% | 0.02% | 0.22% | |
| JPY | -0.07% | -0.03% | -0.08% | -0.13% | -0.14% | -0.12% | 0.08% | |
| NZD | 0.02% | 0.09% | 0.05% | -0.02% | -0.01% | 0.13% | 0.20% | |
| CHF | -0.15% | -0.10% | -0.14% | -0.19% | -0.20% | -0.07% | -0.17% |
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Euro from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent EUR (base)/JPY (quote).
Source: https://www.fxstreet.com/news/uk-gdp-rebounds-03-mom-in-november-vs-02-expected-202401120701