23 Dec 2014
GBP/USD hits fresh 2014 lows
FXStreet (Córdoba) - GBP/USD continued to move lower and fell to fresh 2014 lows Tuesday weighed by string of disappointing UK data, including a downward revision of the Q3 GDP.
GBP/USD pierced the 1.5540 zone and stretched to a marginal new low of 1.5535, last seen Sep 3 2013, before finding support. At time of writing, GBP/USD is trading at 1.5555, recording a 0.22% loss on the day ahead of the release of a series of US data.
Meanwhile, UK data showed not only GDP grew less than expected during Q3 (0.7% QoQ & 2.6% YoY vs 0.8% and 3.0%) but also a further slowing in the housing market and deterioration in the current account and business investment, a combo that sent the sterling to fresh multi-month lows.
GBP/USD pierced the 1.5540 zone and stretched to a marginal new low of 1.5535, last seen Sep 3 2013, before finding support. At time of writing, GBP/USD is trading at 1.5555, recording a 0.22% loss on the day ahead of the release of a series of US data.
Meanwhile, UK data showed not only GDP grew less than expected during Q3 (0.7% QoQ & 2.6% YoY vs 0.8% and 3.0%) but also a further slowing in the housing market and deterioration in the current account and business investment, a combo that sent the sterling to fresh multi-month lows.