Rather unsurprisingly, the dollar continued weakening against the pound yesterday as reports signaling progress in the UK and EU reaching a Brexit divorce settlement continued. The dollar also made some slight losses against the euro. However, there was some positive data from the US, as its economy grew faster than expected in the third quarter of 2017.
From July to September, US GDP grew at an annualised rate of 3.3% against an estimated 3%. That equates to a quarterly growth of more than 0.8%, which is twice as fast as the UK’s Q3 growth of 0.4%.
Today is a pretty busy day for the US, with initial jobless claims and the monthly personal income and personal spending figures set for release. The employment figures are expected to fall to 236,000 in November from 239,000 in October.
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