Since May, there has been quite a sharp and fast recovery in the UK, Bank of England (BoE) Governor Andrew Bailey said on Tuesday but added that there are signs that the recovery will not be as fast going forward, as reported by Reuters. Additional takeaways “Recovery has been uneven.” “Q3 recovery is a bit ahead of where we thought it would be in August.” “UK economic activity in Q3 probably 7-10% lower than it was pre-COVID.” “Level of activity at end of Q3 probably higher than 7-10% below pre-COVID range.” “Investment still looks very weak.” “Risks include COVID, Brexit talks, US-China trade relationship.” “Labour market is one of the hardest things to assess.” Market reaction The GBP/USD pair edged slightly lower with the initial reaction and was last seen gaining 0.15% on the day at 1.2845. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next AUD/USD Price Analysis: Eases from multi-day tops, still well bid above 0.7100 mark FX Street 2 years Since May, there has been quite a sharp and fast recovery in the UK, Bank of England (BoE) Governor Andrew Bailey said on Tuesday but added that there are signs that the recovery will not be as fast going forward, as reported by Reuters. Additional takeaways "Recovery has been uneven." "Q3 recovery is a bit ahead of where we thought it would be in August." "UK economic activity in Q3 probably 7-10% lower than it was pre-COVID." "Level of activity at end of Q3 probably higher than 7-10% below pre-COVID range." "Investment still looks very weak." "Risks include COVID, Brexit talks, US-China… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
