An increase of the indicator value may contribute to the rise in quotes of GBP.
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News GBPUSD
An increase of the indicator value may contribute to the rise in quotes of USD.
According to data from the UK Office for National Statistics, the country's GDP fell by 0.1% in May following a 0.3% decline in April. Experts surveyed by Bloomberg had expected a 0.1% increase. This has heightened concerns among analysts about the state of the British economy.
Global official dollar reserves increased significantly in Q1 despite pressure on the US currency, Standard Chartered notes. In the first quarter of this year, the indicator rose by $168 billion. Of this amount, $90 billion was allocated to the United States.
Goldman Sachs analysts have warned that the American dollar could revert to exhibiting characteristics typical of riskier currencies. While dollar volatility has eased in recent weeks, underlying factors remain that could make it vulnerable to renewed market turbulence.
Event announcement GBPUSD
The USD publication is expected
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