The Great Britain pound fell today even as data confirmed that the UK economy is on a stable path to recovery. The currency is consolidating after it has failed to breach the September highs.
Britain’s gross domestic product expanded 0.8 percent in the third quarter of 2013, matching market expectations. The report supports the view that the central bank does not need to ease monetary policy further. Yet the currency was unable to resume its rally, which perhaps was considered a bit excessive by Forex traders.
GBP/USD slipped from 1.6199 to 1.6194 after rallying to 1.6246 earlier and GBP/JPY fell from 157.58 to 157.45 as of 10:48 GMT today.
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