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The information provided on EL7.AI is for educational and informational purposes only and does not constitute financial advice.
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Sign InThe GBP/JPY currency pair plummeted to a two-month low of 207.62 on Friday after the release of weaker-than-expected economic data from the United Kingdom. Official figures showed the UK economy expanded by only 0.1% on a quarterly basis in the fourth quarter, falling short of market expectations. Furthermore, annual GDP growth was recorded at 1.0%, trailing behind the forecasted 1.2% expansion. These disappointing growth figures have intensified concerns regarding the underlying strength of the British economy and its recovery path. Consequently, the Pound faced significant selling pressure as traders reassessed the Bank of England's potential interest rate trajectory. Market participants are now closely monitoring how these figures might influence future monetary policy decisions amid slowing economic momentum.