UK Q-2 GDP -0.8% q/q, -5.6% y/y, demonstrably weaker than the median forecasts of -0.3%, -5.2% respectively. The y/y fall is the biggest since the series began back in 1955.
Cable has slumped in the wake of the news, going from 1.6505 just prior to the release ot a 1.6466 low. We’re presently at 1.6475.
