020 7898 0500While the UK economy grew by 0.3% in the second quarter, Spain’s economy grew by 0.9% in the same period. This points to a rise of 0.8% from the first quarter and represents an annual growth of 3.1%.
It was a relatively quiet day for the euro, although it did weaken slightly against the pound. Attention will now turn towards the Jackson Hole Economic Symposium which is now in its second day. The event, which runs through to Saturday, will host ECB President Mario Draghi today and the markets will be tuned to his every word for hints of future monetary policy.
If Draghi surprises us all and strikes a hawkish tone, then we could see some strengthening in the euro which could prove detrimental to both sterling and the US dollar.
