The Pound is keeping the balance. Overview for 21.12.2018

GBPUSD is in no hurry to get stronger while the American currency is weak, but “bears” are quite calm. 

The British Pound is quite stable against the USD on Friday afternoon. However, it’s early to say anything about recovery: there will be no clear movements until the British Parliament votes on the Brexit agreement with the European Union. Still, the USD is currently rather weak, thus helping the Pound to stop falling. The current quote for the instrument is 1.2663.

The statistics published today showed that the final GDP in the UK added 0.6% q/q in the third quarter, the same as expected. The first estimate was also the same, 0.6% q/q.

The Public Sector Net Borrowing was 6.3B in November after being 5.6B in October and against the expected reading of 7B.

At the same time, the Revised Business Investment was negative. The indicator lost 1.1% q/q in the third quarter after decreasing by 1.2% q/q the quarter before, mostly due to the Brexit concerns. Probably, the fourth quarter number will reduce even more.