XE Market Analysis: North America – Aug 09, 2019

Sterling came under pressure following data showing an unexpected 0.2% q/q contraction in preliminary UK Q2 GDP, which saw Cable match the 27-month low seen last week at 1.2079, while the UK currency printed a fresh 24-month low against the Euro. EUR-USD, meanwhile, continued to orbit the 1.1200 level, despite some bearish Euro leads, with the Italian coalition government melting down and with data showing a 0.1% m/m decline in German exports, a sharp contraction in French production, and a downward revision in Italian HICP inflation (to just 0.3% y/y).

Source: XE news feed
XE Market Analysis: North America – Aug 09, 2019