The Great Britain pound dropped today as basically all economic reports from the United Kingdom were bad. The currency managed to maintain the rally against the Japanese yen but had no such luck versus the US dollar.
Wednesday’s macroeconomic economic data from Great Britain was underwhelming all across the board, dragging the sterling down. The unexpected drop of manufacturing and industrial production, the worsening trade balance deficit and the persisting shop price deflation — all those factors contributed to the drop of the UK currency. Fortunately for it, though, the yen was even weaker, allowing the GBP/JPY currency pair to gain.
GBP/USD dropped from 1.5394 to 1.5352 as of 11:36 GMT today. At the same time, GBP/JPY rallied from 184.42 to 185.51.
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