BREAKING: GBPUSD ticks higher after UK GDP data

UK GDP YoY Actual 1.3% (Forecast 1.3%, Previous 1.3%)

UK GDP QoQ Actual 0.1% (Forecast 0.1%, Previous 0.1%)

The data was in line with expectations, but the British pound gained after the release, which may indicate that part of the market expected lower revisions in the GDP reading. In theory, data pointing to economic growth should be hawkish for the currency, increasing the chances of a more conservative central bank policy, so there are no surprises here and the reading seems to have little impact on changing these expectations. On the other hand, however, the pound is up after.

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