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UK: GDP falls 0.3% in Q4, as expected

FXstreet.com (Barcelona) - On a quarterly basis UK GDP decreased 0.3% in Q4, following the 0.3% fall registered the previous quarter, according to data released today by National Statistics. This result is in line with market consensus.

Year-over-year GDP rose 0.2% in Q4, slightly down from +0.3 in Q3 and below expectations of 0.3% growth.

Forex: EUR/USD threatening 1.2800

The bearishness surrounding the single currency is picking up pace on Wednesday, dragging the cross to fresh 2013 lows in the area of 1.2800/10 and challenging the key support at 1.2800...
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Forex: GBP/JPY tumbles and tests 143.00

From 143.60, the GBP/JPY erased its gains and spiked to below the 143.00 mark after the release of disappointing data in the UK. The annualized GDP in the UK was actually of 0.2% growth in Q4, instead of the expected 0.3%. The Current Account deficit improved less than expected, from £-15.074B to £-14.037B (consensus at £-12.700B). Not as bad as expected was Total Business Investment, that fell from 3.8% to -0.8% in Q4, beating consensus of -1.2%.
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