GBPUSD is making another attempt to fight the pressure.
The British Pound is rising against the USD on Wednesday. The current quote for the instrument is 1.3628.
In the morning, the United Kingdom released several interesting reports for August. For example, the Industrial Production in the country showed 0.8% m/m after being 1.2% m/m in July and against the expected reading of 0.2% m/m. The Manufacturing Production added 0.5% m/m, although it wasn’t expected to change.
It seems like August was a pretty good month for industries – it was the time when social restrictions were mostly removed and no one yet cared about a new COVID wave.
At the same time, the industrial sector experienced some problems due to interruptions in deliveries.
The British GDP added 0.4% m/m and 6.9% y/y in August. On MoM, the report fell short of expectations a little bit, but a YoY report turned out to be much better, thus supporting the Pound. Of course, one should remember last year’s low base effect, but nevertheless, I would be safe to say that the British economy was feeling much better in the third quarter than before. It’s good news.
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.