The UK GDP unexpectedly fell 0.1% month over month in May.
Following the release of the UK economic figures, the GBP/USD falls below 1.3550.
According to the most recent data released by the Office for National Statistics (ONS) on Friday, the UK economy continued to deteriorate in May, with the GDP falling 0.1% after falling 0.3% in April.
During the stated period, a 0.1% gain was anticipated by the market.
In contrast to April's 0.6%, the May Index of Services came in at 0.4% 3M/3M.
According to additional UK data, May's monthly Industrial and Manufacturing Production figures were -0.9% and -1%, respectively. Neither of the readings met market expectations.
Response of the market to the UK data
The depressing UK economic data made the pound sterling even more vulnerable. The GBP/USD exchange rate is currently trading at 1.3540, down 0.18% for the day.
Today's British Pound Price
Following the release of the UK economic figures, the GBP/USD falls below 1.3550.
According to the most recent data released by the Office for National Statistics (ONS) on Friday, the UK economy continued to deteriorate in May, with the GDP falling 0.1% after falling 0.3% in April.
During the stated period, a 0.1% gain was anticipated by the market.
In contrast to April's 0.6%, the May Index of Services came in at 0.4% 3M/3M.
According to additional UK data, May's monthly Industrial and Manufacturing Production figures were -0.9% and -1%, respectively. Neither of the readings met market expectations.
Response of the market to the UK data
The depressing UK economic data made the pound sterling even more vulnerable. The GBP/USD exchange rate is currently trading at 1.3540, down 0.18% for the day.
Today's British Pound Price
