Pound Flat, GDP Report in Focus

The Great Britain pound was little changed today as traders are waiting for GDP data from the United Kingdom which will be released later this week.

The preliminary report about UK gross domestic product in the third quarter of this year is scheduled for release on October 27. Experts predict that it will show growth by 0.3%, slowdown from the strong second quarter when Britain’s economy logged 0.7% growth. Meanwhile, the threat of the hard Brexit hangs over Britain, spooking investors from the nation’s currency, though lately the sterling was consolidating after its big drop in September.

GBP/USD traded at about 1.2223 as of 13:20 GMT today, near its opening level of 1.2215. EUR/GBP was virtually unchanged at 0.8902.

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