The pound long managed to balance in zero gravity thanks to the weak USD and surprising overall optimism provoked by the perspectives of total vaccination from COVID-19. The current quotation of GBPUSD is 1.3322.
However, Brexit risks are becoming more and more obvious: the talks go on and on but no serious decisions are made. Meanwhile, everyone sees that there is no time left neither for consideration, nor for ratification. This means that the tough scenario of Brexit is becoming more probable and realistic every day.
The statistics issued today show that the RICS House Price Balance in November deteriorated slightly, amounting to 66% against 67% before. This is not the brightest news that can enforce the GBP, still, it is enough for understanding the general state of affairs in the economy.
The industrial production in October grew by 1.3% m/m after growth by 0.5% m/m in September and forecast growth by 0.4%. As for the components, the manufacturing production grew by 1.7% m/m after an increase by 0.2% in September. The construction output grew by 1% m/m, and this is a worse result than in September (2.9% m/m).
The British GDP for October has also been published – the economy grew by 0.4% only after an increase for 1.1% in September. However, the result was forecast.