February 10, 2023 – Written by John Cameron
Pound (GBP) Undermined by Concerning Economic Outlook
The Pound (GBP) traded erratically on Friday morning after GDP growth data confirmed market expectations and stagnated in the fourth quarter. Despite avoiding a recession, which lent some support to Sterling, the fragility of the UK economy remains.
The Office for National Statistics (ONS) released GDP growth data on Friday morning which met market forecasts. An expected stagnation in QoQ growth boosted GBP investors as it signalled…