8:13 AM · 13 July 2023

GBPUSD above 1.30 after better UK GDP data!

The pound breaks above the 1.3000 level after a better UK GDP reading (UK GDP (m/m) May: -0.1% (expected -0.3%; previously 0.2%)). The data may encourage the Bank of England to raise interest rates further, which, combined with dollar weakness after yesterday's CPI reading from the US, creates downward pressure on the GBPUSD pair.

Source: xStation 5

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Daily summary: Geopolitics and debt continue to weigh on valuations

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