Pound Continues to Trade Weak, Unchanged Over UK’s GDP Release - Forex News by FX Leaders

Pound Continues to Trade Weak, Unchanged Over UK’s GDP Release

Posted Friday, June 28, 2019 by
Arslan Butt • 1 min read

On Friday, GBP/USD continues to trade weakly over continuing concerns about the possibility of a no-deal Brexit. While there have been no major political developments so far, frequent comments from Boris Johnson insisting on a hard Brexit are exerting downward pressure on the Sterling.

UK’s GDP figures were released sometime back and revealed that the British economy grew by 0.5% during Q1 2019, in line with expectations. So far, GBP/USD remains unchanged on this data release.

Investors are keeping away from the Pound before the official announcement of the next Prime Minister, and that has also caused a weakening in the Pound of late. Johnson continues to maintain that Britain should leave the EU on the October 31 deadline, with or without a deal.

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About the author

Arslan Butt // Index & Commodity Analyst
Arslan Butt is our Lead Commodities and Indices Analyst. Arslan is a professional market analyst and day trader. He holds an MBA in Behavioral Finance and is working towards his Ph.D. Before joining FX Leaders Arslan served as a senior analyst in a major brokerage firm. Arslan is also an experienced instructor and public speaker.
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