The Great Britain pound dropped today as macroeconomic indicators released in the United Kingdom continued to disappoint.
Industrial production contracted 0.1% and manufacturing production declined 0.2% in May instead of rising as analysts had predicted. Construction output dropped 1.2%, and forecasters were wrong again with their predictions of growth. The trade balance deficit widened by £1.0 billion to £3.1 billion in May while experts had predicted it to stay almost unchanged.
GBP/USD declined from 1.2969 to 1.2917 as of 9:03 GMT today. EUR/GBP gained from 0.8806 to 0.8838.
If you have any questions, comments or opinions regarding the Great Britain Pound,
feel free to post them using the commentary form below.
