The Pound is in the green today after the UK's GDP rose more than expected in May. The 0.2% consensus was doubled and eclipses April's flat 0% reading. Growth targets for the UK have been raised from 1% to 1.5% by year-end.
The services sector remains the engine of growth in the UK and has been outperforming the last few months. In fact, the 1.1% it has grown in that time is the most seen since the 3-months to December 2021..
On a £200,000 exchange -
GBP v EUR has made €2,000 in the 10-days & €5,000 in 2-months
GBP v USD has made $5,000 in the last 10-days & $7,000 in 2-months
It is a fantastic time to think about banking the above profit if you have any exchanges in the pipeline. A Forward Contract or hedging some of what you need now can help with this.
On this day -
In 1897, Salomon August Andree and crew leave northern Norway for the North Pole by balloon
In 1900, Charlotte Cooper becomes the 1st individual female Olympic champion in any sport, winning at Tennis
In 1960, Harper Lee's "To Kill a Mockingbird' is published
In 2015, Mexican drug lord "El Chapo" escapes a maximum-security prison via a specially constructed 1.5km tunnel from his cell to a nearby house