GBP volatile on UK GDP
UK Q3 GDP increased in line with forecasts by 0.8% q/q (prior: +0.7%) and 1.5% y/y (forecast: +1.3%). The Office for National Statistics said there had been a "fairly strong" performance across all sectors. Services, production and manufacturing, construction and agriculture sectors all expanded for a second consecutive quarter. Chancellor of the Exchequer George Osborne said on Twitter: "This shows that Britain's hard work is paying off and the country is on the path to prosperity."
GBP/USD made a 60 pips swing up and down and stabilzed around the middle of the trading range around $1.6210.