UK Q-4 GDP came in at -1.5% quarter on quarter and -1.9% year on year, very slightly better than expected compared to median forecasts of -1.6% and -1.9% respectively. Cable having stood around 1.4565 post release got a slight initial boost, but there has been no followthrough and we’re back at 1.4560 at writing. Q-3 GDP was revised marginally lower, to -0.7% from -0.6% quarter on quarter and to +0.2% from +0.3% year on year.