GBP – Possible Revision Coming From U.K. Govt

The Sterling continued to find stability on Friday even as another dose of poor U.K. economic data was published. The Manufacturing Production and Industrial Production figures turned in negative results with a matching decline of minus -0.4%. Both numbers were projected to show gains and the outcomes reflect the growing belief that the U.K. is facing a tough road ahead economically. Over the weekend reports circulated that the government is going to revise its economic outlook downward in the coming month. Today the RICS House Price Balance figures will be presented and tomorrow a parade of inflation data is on the schedule. The GBP has performed relatively calm the past few trading sessions and this has mirrored the global market place which has shown better sentiment.

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