Pound Sterling (GBP) Exchange Rates Steady as Q4 GDP Confirmed at 0.6%
The Pound (GBP) ticked higher against the majority of its peers on Friday, with the release of the UK’s latest GDP figures confirming that the UK expanded at its fastest pace since the end of 2016 in the third quarter.
However, undermining the solid growth report were the accompanying business investment figures, which revealed that investment contracted for a third consecutive quarter and struck its worst levels since 2016.
GBP/EUR Exchange Rate Firms as Eurozone Confidence Tumbles
The Pound Euro (GBP/EUR) exchange rate edged away from a one-week low at the end of last week’s session as the single currency was undermined by a sharper-than-expected drop in Eurozone consumer confidence in December.
This followed the release of France’s latest GDP figures earlier on Friday, with a surprise downgrade to French growth in the third quarter initially weakening the Euro at the start of the session.
GBP/USD Exchange Rate Softens Despite US Shutdown Fears
The Pound US Dollar (GBP/USD) exchange rate fell back at the end of last week’s session, with the US Dollar appearing to strengthen despite growing concerns of a US government shutdown as Donald Trump clashed with the senate over the funding of his wall with Mexico.
This resilience in the US Dollar can likely be partially attributed to the release of the latest US PCE Price Index, with the Federal Reserve’s preferred measure of inflation revealing that US price growth proved more robust than forecast in November.
GBP/CAD Exchange Rate Steady on Mixed Canadian Data
The Pound Canadian Dollar (GBP/CAD) exchange rate traded in a narrow range on Friday, in the wake of Canadian data showing that GDP rebounded in October, but that retail sales missed expectations.
GBP/AUD Exchange Rate Climbs as US Government Shutdown Dents Risk Appetite
The Pound Australian Dollar (GBP/AUD) exchange rate briefly struck a one-month high at the end of last week’s session as the prospect of a shutdown of the US government spooked markets and dampened market risk appetite.
GBP/NZD Exchange Rate Rallies amid Rising Risk Aversion
The Pound New Zealand Dollar (GBP/NZD) exchange rate rallied again on Friday as the ‘Kiwi’ was also weakened by the drop in risk sentiment.