GDP 3m/3m (GBP) comes in at 0.4%, down from previous 0.7%

The UK’s GDP 3m/3m figure was released today, showing an actual print of 0.4%. This follows the previous period’s reading of 0.7%. No consensus figure was available for this release.

Following the release, market reaction in GBP pairs has been varied over the initial 15 minutes. EURGBP saw a move of -0.6 pips, while GBPAUD moved -4.9 pips. GBPCAD registered a +1.3 pip change, and GBPCHF showed no change at 0.0 pips. GBPJPY moved +8.2 pips, and GBPNZD gained +9.2 pips. GBPUSD moved -3.7 pips. These initial 15-minute movements are generally smaller when compared to the typical 1-hour median moves for these pairs, which range from 6 pips for EURGBP to 17 pips for GBPNZD.