The British Pound resumed its slide against its American rival in the American session on Monday, as the US Dollar (USD) found near-term demand in a risk-averse environment. The GBP/USD pair fell to an intraday low of 1.2473 following the release of mixed United Kingdom (UK) data.
The UK reported that the Q3 Current Account posted a deficit of £ 18.099 billion, improving from the £-24.002 billion posted in the previous quarter.
The Q3 Gross Domestic Product (GDP) suffered downward revisions, with the annual reading confirmed at 0.9%, below the 1% expected. The UK economy did not grow in the quarter vs expectations of a modest 0.1% advance.
As for the United States (US), the country released Durable Goods Orders, which fell by 1.1% in November, worse than the expected decline of 0.4%. Also, CB Consumer Confidence edged sharply lower in December, falling to 104.7 from 112.8 in November and missing the expected 112.9.(Cay) Newsmaker23
Source: Fxstreet
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