9 Apr 2014
GBP supported on promising UK fundementals - Investec
FXStreet (Guatemala) - Jonathan Pryor, Corporate Treasury Analyst at Investec noted the performance of the pound and associated factors of the UK economy leading to sterling's outrun across the G7's.
Key Quotes
"It was a storming day for the proud pound yesterday as it strengthened across the board. NIESR, an independent think tank, yesterday published its estimate that the UK economy expanded 0.9% in Q1 2014."
"The economy grew by 0.7% in Q4 2013 and the first official estimate of Q1 growth will be eagerly anticipated on the April 29th. In addition the IMF raised its forecasts for UK economic growth for the second time this year from 2.4% to 2.9%, predicting the UK will have the fastest expansion among G7 nations."
"A separate report yesterday showed UK industrial production rose at 0.9% in February, faster than the forecast 0.3%, and Manufacturing Production numbers also surprised to the upside printing a 1% monthly rise against the consensus of a 0.3% reading.
Key Quotes
"It was a storming day for the proud pound yesterday as it strengthened across the board. NIESR, an independent think tank, yesterday published its estimate that the UK economy expanded 0.9% in Q1 2014."
"The economy grew by 0.7% in Q4 2013 and the first official estimate of Q1 growth will be eagerly anticipated on the April 29th. In addition the IMF raised its forecasts for UK economic growth for the second time this year from 2.4% to 2.9%, predicting the UK will have the fastest expansion among G7 nations."
"A separate report yesterday showed UK industrial production rose at 0.9% in February, faster than the forecast 0.3%, and Manufacturing Production numbers also surprised to the upside printing a 1% monthly rise against the consensus of a 0.3% reading.