The UK economy is defying the EU Referendum for the second time in a row, growing by 0.6% q/q and 2.2% y/y in Q4 2016. Both figures are 0.1% above early estimations. This kind of expansion is not steaming hot or inspiring but it is certainly solid and healthy. And, when taking the projected “Brexit cliff” into consideration, this is great news. Economists, the Bank of England and also the British government predict slower growth in 2017. UK PM Theresa May is in the US, about to meet President Trump, while her Brexit minister is pushing through with a bill to approve Article 50, the formal announcement of leaving the EU, in parliament. The exit is expected to occur by the end of March. Will the UK economy begin struggling after the official proclamation? GBP/USD reaction Sterling/dollar has been on the rise in the past few days, advancing all the way to a high of 1.2677, that came earlier this morning. This is still under the initial post-Brexit low of 1.2790 but well above 1.20 seen last week. From these highs, the pair is sliding back down after the release. Cable is now trading at 1.2630, selling the fact. More: GBP: UK Court Ruling: Scenarios & Market Implications – Deutsche Bank Yohay Elam Yohay Elam Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts. Yohay's Google Profile View All Post By Yohay Elam Forex News Today: Daily Trading News share Read Next GBP: ‘Cheap’ Sterling Bounces On Position-Squaring: What’s Next? – Yohay Elam 6 years The UK economy is defying the EU Referendum for the second time in a row, growing by 0.6% q/q and 2.2% y/y in Q4 2016. Both figures are 0.1% above early estimations. This kind of expansion is not steaming hot or inspiring but it is certainly solid and healthy. And, when taking the projected "Brexit cliff" into consideration, this is great news. Economists, the Bank of England and also the British government predict slower growth in 2017. UK PM Theresa May is in the US, about to meet President Trump, while her Brexit minister is pushing through with a bill… 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.
