30.09.2014 - Pound continued to decline despite the strong GDP growth
Today in the UK was published an important block of macro. Thus, the country's GDP in the second quarter of this year increased by 0.9%, which is 0.1% better than analysts' expectations. The main growth drivers were the growth in the services sector and the construction sector. The Bank of England expects that GDP in 2014 will grow by 3.5%, which is the maximum growth over the past 10 years. It is also worth noting that business investment increased by 3.3% compared with an expected growth of 4.0%. Negative for the British pound was the news on the growth of current account deficit to 23.1 billion, against an expected decline to 16.9 billion. Despite this decline is limited by the level of 1.6050, and we expect the resumption of growth in the medium term.