The British pound retreated a bit on Friday. Commerzbank economists analyze the outlook for the GBP.
The situation is likely to remain volatile for the British Pound
According to preliminary data, the economy stagnated in the third quarter. However, it is no consolation that the release was slightly better, especially not for the BoE, as this does not exactly make their job any easier.
The British economy is cooling noticeably. It doesn’t matter if the release was slightly more positive than expected, the outlook is clearly bumpy.
With likely more important data due to be released this week, such as the labor market report (Tuesday) and inflation data (Wednesday), volatility is likely to continue to weigh on the British pound.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
