XE Market Analysis: Pound Weakens Despite Strong Economy

OVERVIEW German consumer confidence rose in line with expectations to 9.9. German consumers have become more upbeat about their future income due to the strong labour market and rising wages.  U.S. personal consumption and income were both weaker than expected, rising 0.2% and 0% respectively last month, which points to slower growth in the fourth quarter. HIGHLIGHT UK growth was revised up for the third quarter as the economy expanded 0.6% from Q2, due primarily to strong household spending as business investment rose only modestly.  US DOLLAR The Dollar is marginally lower in quiet Christmas trading. Going into next year,…

Source: XE news feed
XE Market Analysis: Pound Weakens Despite Strong Economy