The United Kingdom’s GDP m/m release landed at 06:00 UTC, and sterling drifted modestly lower across the board. Thirty minutes on, GBPUSD led the moves with a 0.11% dip in our M15 feed.
Where the pound moved
GBPUSD was the biggest mover, easing from 1.34940 to 1.34797, a fall of 0.11%.
GBPAUD followed, slipping from 1.91420 to 1.91294, down 0.07%.
The Scandinavian crosses softened by a similar margin. GBPSEK edged from 12.93053 to 12.92414 (-0.05%), while GBPNOK dropped from 12.81387 to 12.80777 (-0.05%).
Moves further down the list were smaller. GBPSGD slipped from 1.72730 to 1.72676 (-0.03%), and GBPNZD eased from 2.31341 to 2.31278 (-0.03%).
What the reaction shows
Every tracked pound pair moved in the same direction, pointing to a broad-based but restrained softening in sterling rather than a single-cross story.
The reaction was concentrated at the top of the list, with GBPUSD and GBPAUD absorbing the largest share of the move. The Scandinavian and Asian crosses registered only marginal shifts.
With no pair moving more than about a tenth of a percent, the overall response to the GDP print reads as muted across the board.
Descriptive market news from the ForexBullion Research Team. Not investment advice.
