*UK's GDP came in at -0.2% matching forecasts
*Sterling bounced from our pre-defined support zone
The UK’s economy is under the terrible effects of Brexit and its GDP’s data (released today) stink. Having said this, the actual number matched the estimates and given that the revised reading wasn’t changed, there want any meaningful move in Sterling.
But overall, traders and investors are desperate for the Brexit uncertainty to disappear because borrowers are not ready to take any risk. The housing sector is one the biggest victim as the mortgage approvals have fallen to an 18-month low, a devastating number.
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