Pound Set For Quarterly Gain Yet Brexit Blurs Currency's Outlook
- Data shows fastest U.K. growth in a year in fourth quarter
- EU guidelines likely to ‘disappoint the pound bulls’: Nomura
What Brexit Means for Pound Sterling
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The pound headed for its first quarterly gain versus the dollar since mid-2015 as data showed the currency’s Brexit decline delivered a double boost for the U.K. economy.
A bumper contribution from trade saw the nation’s gross domestic product grow an unrevised 0.7 percent in the fourth quarter, its fastest pace in a year, data released on Friday showed. In the same period, the current-account deficit narrowed sharply to 2.4 percent of GDP, the least since 2011.