GDP data for the third quarter were again stronger than expected, an increase of 0.8% for the quarter against the expected 0.4%. Regardless of the impact of the these data (they are based on 40% of the economy, because there are many voids to fill in), they just made a political dilemma in Britain more difficult. Growth was driven by the service sector, construction sector has also been afloat, as it was in the second quarter. The pound moved forward this morning, adding about 1% against the dollar SSCHA since the opening of European markets. There are probably several factors that the background to help the pound. First, the tax deal between Britain and Switzerland to create a pound of potentially positive revenue stream. Secondly, other currencies have come under great pressure after the closure of dollar short positions.
Translate this page
