The Great Britain pound dropped today as today’s macroeconomic reports were rather bad, spurring talks about further monetary easing from the Bank of England and fears that the UK economy will slid back into recession.
Industrial production fell 1.7 percent in October from September, more than analysts have anticipated — 0.6 percent, while fell 1.7 percent in October, below the expectations of 0.3 percent. The Halifax House Price Index slid 0.7 percent in October from the previous month instead of rising 0.5 percent, as was predicted. The poor data made traders worried how it will affect the BoE monetary decision on November 8.
GBP/USD fell from 1.5994 to 1.5972 as of 14:12 GMT today, falling from the high of 1.6040. GBP/JPY retreated from 128.49 to 127.61.
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