The pound recovered sharply against the euro, where GDP growth - TopicsExpress

The pound recovered sharply against the euro, where GDP growth will certainly have been negative in Q2, and it steadied against the rest of the field. On the day the pound is down by around 1% against the Japanese yen and the Commonwealth dollars and lower by half that much against the US dollar. It is half a cent stronger against the Swiss franc and up by a quarter of a cent against the euro. Although investors take economic forecasts from the International Monetary Fund with a generous pinch of salt thy will not be able entirely to ignore its prediction last night that UK GDP would expand by 0.9% this year, three times as much as in Germany.

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