- GBP/USD selling continues for the second day following UK disappointing data.
- US inflation and jobless claims eyed for further clues.
- Brexit deal may not be a reality in November.
UK GDP grew by 1.1 Percent in September and 15.5 Percent in the third quarter, below market estimates; UK Industrial and Manufacturing Production during September also fell short of consensus.
The UK’s Office for National Statistics released the GDP data. GBP/USD trades near two-day lows around 1.3180 and hardly budged after the release; the pair has been under pressure recently from the Brexit-deal uncertainties.
An Irish minister on Wednesday commented that the negotiations between the UK and EU might miss the mid-November deadline for a Brexit deal.
The US dollar strength is in vogue as the US equity futures pulled back; the greenback buying put further pressure on the GBP/USD pair which had slid from two-months-top above 1.3300 printed in the previous day.
BoE Governor Andrew Bailey’s speech and Brexit developments will dictate the action ahead in the GBP/USD. During the US session, market participants will eye the release of consumer inflation figures and Initial Weekly Jobless Claims data.
At the time of writing, one British Pound buys 1.3190 US dollars, down -0.21% as of 8:15 AM UTC.