The EURGBP concluded the week in red for the third straight week. The currency pair remains on the backfoot as the Euro continues to weaken, with...
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Maroc - FINANCIALMIRROR.COM - A La Une - 11/Jul 09:45
UK economy rebounds faster than expected
The EURGBP cross remains on the defensive around 0.8425 during the early European session on Thursday, trading with mild losses after the monthly UK Gross Domestic Product data. The UK economy grew more than expected in May after stagnating in April, with the GDP expanding at 0.4% MoM. This figure beat market expectations of 0.2% in the reported period, according to National Statistics on Thursday. The Pound Sterling attracted modest sellers in response to the stronger UK data. At the same time, uncertainty has risen surrounding the Bank of England’s decision to begin lowering its borrowing costs from the August
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