Pound remains in red after solid macroeconomic data

Markets 11/9/2018, 11:18 AM
Pound remains in red after solid macroeconomic data

Brexit uncertainty was kept in focus at the markets on Friday, with a barrage of different speculation in the media prompting a moderate decline in sterling's value. A slew of official statistical reports fell to the background despite some notable improvements. The United Kingdom's economy grew 0.6% in the three months through September, the most in seven quarters. However, expansion was zero in September alone. Manufacturing and the trade balance improved. On the flipside, industrial production stagnated and corporate expenditure fell.

One of the latest rumors, started by anonymous insiders, was that the European Union is asking for fishing rights in Britain's waters if the government in London insists on avoiding a customs barrier in the Irish sea.

The pound dropped 0.39% to $1.301 at 11:17 am CET. The euro was 0.19% stronger, selling for £0.87139. The British currency lost 0.26% to 1.3108 Swiss francs and 0.52% to ¥148.104.

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GBP/JPY-0.29%

144.7090
Chart for: GBP/JPY Spot

GBP/CHF-0.29%

1.2825
Chart for: GBP/CHF Spot

EUR/GBP+0.34%

0.8899
Chart for: EUR/GBP Spot

GBP/USD+0.40%

1.2829
Chart for: GBP/USD Spot