Sterling Faces Challenges After Mostly Weaker Data

Sterling Faces Challenges After Mostly Weaker Data

Source: EODHD - https://finance.yahoo.com/news/sterling-faces-challenges-mostly-weaker-100826174.html
Published: Nov 22, 2024 5:08 AM

In addition to generally disappointing economic indicators recently, the pound seems to have been affected negatively by recent escalation in the Russo-Ukrainian war. In the aftermath of 15 November’s GDP data, cable reached a low of nearly five months around $1.26. This article summarises recent news and data affecting the pound then looks briefly at the charts of GBPUSD and GBPJPY. The British economy had a mild recession in the second half of 2023 which ended in the first quarter of this year. Now growth in the third quarter seems to have declined more than expected: The consensus for the preliminary figure for GDP in the third quarter was 0.2%. This isn’t a big miss but in the overall co...

Market context: This update is relevant to GBP traders, with GBPJPY as the primary instrument to monitor for follow-through, trend continuation, or headline volatility.