The quid pushes higher as the UK economy shows it’s not ready for the scrap heap just yet
Mixed emotions for the GDP data. We did better than Q3 but growth has slipped below 2% y/y. A sign of the times that growth is hard earned and hard to come by. Domestically we’re still doing fine but it’s outside our borders where the weakness lies. EURGBP might start helping now it’s gained around 10% from the lows, lessening the pounds strength in trading with Europe. With the ECB still in full QE mode it’s hard to see that rising too far
There’s life in the old dog yet but can the pound make a real break higher?
