The Pound US Dollar (GBP/USD) exchange rate is attempting to pick itself up after plunging 1.5% in the previous session. The pair trades +0.1% at U$1.2803 and is on track for weekly losses in the region of 3.5%, the largest weekly loss since March.
UK GDP for July +6.6% vs 6.7% expected. The economy is still 11.7% smaller than prior to the coronavirus crisis. Brexit talks look set to collapse as British government remains defiant over internal markets bill.
The US Dollar is trading mildly lower as investors look ahead to US inflation data. Expectations are for consumer prices to increase 0.3% month on month in August and 1.2% on an annual basis.
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