UK OBR forecasts for GDP growth sharply lower in 2022

The Office of Budget Responsibility (OBR) forecast for growth shows sharply lower growth for 2022 (vs October projections) and modestly lower in 2023, but see a rebound in at 2024:

• 2022 GDP growth of 3.8% versus 6.0% in October forecast
• 2023 GDP growth 1.8% versus 2.1% October
• 2024 2.1% versus 1.3% October
• 2025 1.8% versus 1.6% in October
• 2026 1.7% versus 1.7% October

The GBPUSD GBP/USD The GBP/USD is the currency pair encompassing the United Kingdom’s currency, the British pound sterling (symbol £, code GBP), and the dollar of the United States of America (symbol $, code USD). The pair’s rate indicates how many US dollars are needed in order to purchase one British pound. For example, when the GBP/USD is trading at 1.5000, it means 1 pound is equivalent to 1.5 dollars. The GBP/USD is the fourth most traded currency pair on the forex exchange market, giving it ample liquidity a The GBP/USD is the currency pair encompassing the United Kingdom’s currency, the British pound sterling (symbol £, code GBP), and the dollar of the United States of America (symbol $, code USD). The pair’s rate indicates how many US dollars are needed in order to purchase one British pound. For example, when the GBP/USD is trading at 1.5000, it means 1 pound is equivalent to 1.5 dollars. The GBP/USD is the fourth most traded currency pair on the forex exchange market, giving it ample liquidity a Read this Term is modestly higher off support at the 100 hour MA and 38.2% retracement from the hourly chart near 1.3183 area. The price trades at 1.3194 currently.