The GBP/USD pair trimmed most of its weekly gains on Friday and settled in the 1.3580 price zone, amid risk-off fueling dollar’s demand. The pound enjoyed some temporal demand after the release of the monthly Gross Domestic Product figure, which came better than expected. According to the official release, the GDP contracted 2.6% in November against the -5.7% forecast. Still, UK data was far from encouraging. Industrial Production in the same month printed at -4.7% YoY, while the Goods Trade Balance posted a deficit of £-16.012 billion.
Meanwhile the coronavirus pandemic keeps taking its toll on the kingdom, which reported over 55K new cases on Friday. Prime Minister Boris Johnson announced additional restrictive travel measures on Friday, to protect “against the risk of as yet unidentified new strains. The UK will close all travel corridors starting this Monday, and anyone flying into the country will need to provide a negative coronavirus test. the pair remains bearish in the daily chart,
Meanwhile the coronavirus pandemic keeps taking its toll on the kingdom, which reported over 55K new cases on Friday. Prime Minister Boris Johnson announced additional restrictive travel measures on Friday, to protect “against the risk of as yet unidentified new strains. The UK will close all travel corridors starting this Monday, and anyone flying into the country will need to provide a negative coronavirus test. the pair remains bearish in the daily chart,
