Report from Moody's on the UK
- Despite signs of slowing growth in the first quarter, UK macroeconomic conditions remain firm
- latest UK data suggest drivers of growth gradually shifting with lower contributions from service sector partially offset by industrial production
- relatively resilient macroeconomic conditions since EU rreferendum supports view of modest and manageable credit impact from Brexit for UK issuers
- likely to see consumption growth weakening this year against backdrop of rising inflation
The GBPUSD remains above the 1.2988-90 area below keeping the bulls/buyers more in control (see earlier post
). The low reached 1.29894.