GBP/USD stays below 1.4200 after UK GDP misses estimates with 2.3% in April

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  • UK GDP arrived at 2.3% MoM in April vs. 2.4% expected.
  • GBP/USD remains little changed on the downbeat UK GDP.

The UK GDP monthly release showed that the economy grew less-than-expected in April, arriving at 2.3% vs. 2.4% expectations and 2.1% previous.

Meanwhile, the Index of services (April) came in at 1.4% 3M/3M vs. -2.0% prior.

The Cable keeps its range around 1.4175 on the UK growth numbers. The spot trades almost unchanged on the day.

About UK GDP

The Gross Domestic Product released by the National Statistics is a measure of the total value of all goods and services produced by the UK. The GDP is considered as a broad measure of the UK economic activity. Generally speaking, a rising trend has a positive effect on the GBP, while a falling trend is seen as negative (or bearish).