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26 Feb 2016
UK Pound has steadily recovered – Investec
Research Team at Investec, suggests that yesterday morning we had the second reading of UK 2015 Q4 GDP, managing to survive the revisions the reading remained unrevised at 0.5%.
Key Quotes
“Year-on-year growth was also unrevised, at 1.9%. The Pound has steadily recovered over the last 24 hours against the US Dollar, although remains near its lows against the Euro, ruling out the GDP reading as a catalyst.
The GBP/USD recovery could be attributed either to month end flows, or position square, or potential "risk on" moves ahead of today's G20 meeting in Shanghai.”
Key Quotes
“Year-on-year growth was also unrevised, at 1.9%. The Pound has steadily recovered over the last 24 hours against the US Dollar, although remains near its lows against the Euro, ruling out the GDP reading as a catalyst.
The GBP/USD recovery could be attributed either to month end flows, or position square, or potential "risk on" moves ahead of today's G20 meeting in Shanghai.”