Cable is down at 1.6615 at writing. The Q-1 GDP revision was worse than expected, -2.4% q/q and -4.9% y/y, compared to the median forecasts of -2.1% and -4.3% respectively.
The quarter on quarter decline is the biggest since the second quarter of 1958.
The year on year fall is the biggest ever.
Technical support now at 1.6600/05.
