The Pound Sterling (GBP) weakened against major currencies on Friday, following disappointing UK GDP data for October. The report revealed a contraction of 0.1%, contrasting with forecasts that anticipated a 0.1% growth. This unexpected decline has heightened concerns over the UK’s economic stability, leading to increased selling pressure on GBP across the board.
In the wake of the GDP release, the GBP/USD exchange rate slipped further, reflecting trader sentiment and market uncertainty. Meanwhile, the GBP/EUR also faced downward movement as the euro strengthened against a backdrop of improved economic outlook in the Eurozone. As traders assess the implications of the UK’s economic performance, volatility is expected to persist, influencing future trading decisions in the forex market.
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Data Source: FX Killer Analysis Team Updated: 2025-12-12 09:46
Disclaimer: This article is for reference only and does not constitute investment advice. Forex trading involves risks; please make decisions carefully.