My apologies if this is a repost, but thought this was interesting from Dailyfx: " The Bitish pound was the biggest loser on Friday as the currency lost 2.5 percent against the Japanese yen. Indeed, GBPJPY broke below its July lows during the Asian trading session as the Nikkei 225 tumbled 2.6 percent, and from there on out, the pair plummeted toward 143. This helped to exert even more pressure on GBPUSD, which broke below its own recent lows to settle the day just above support at 1.5928. Looking to the day’s economic news, UK total business investment was unexpectedly revised up very slightly to -10.2 percent for Q2 from -10.4 percent, while the annual rate was revised sharply lower to -21.8 percent from -18.4 percent, suggesting that businesses are not maintaining a very good outlook for the economy though the end of the year.
On the other hand, the UK will face their third and final round of growth results on Tuesday, and this upcoming GDP reading is anticipated to be revised up to -0.6 percent in Q2 from Q1, compared to previous estimates of -0.7 percent. Likewise, the year-over-year rate of growth is projected to be revised up to -5.4 percent from -5.5 percent, which would still mark a record low but would suggest that the UK’s recession isn’t quite as bad as previously though. The last time we saw news similar to this was upon the preliminary (second) release of Q2 GDP on August 28, as the quarterly rate was surprisingly revised up to -0.7 percent from -0.8 percent. At that point, the British pound rallied into the start of the US trading session, but subsequently ran into resistance and ended the day lower. This suggests that if GDP is revised higher than -0.6 percent, the British pound could gain, but ultimately, readings in line with expectations shouldn’t have a large impact on trade."
On the other hand, the UK will face their third and final round of growth results on Tuesday, and this upcoming GDP reading is anticipated to be revised up to -0.6 percent in Q2 from Q1, compared to previous estimates of -0.7 percent. Likewise, the year-over-year rate of growth is projected to be revised up to -5.4 percent from -5.5 percent, which would still mark a record low but would suggest that the UK’s recession isn’t quite as bad as previously though. The last time we saw news similar to this was upon the preliminary (second) release of Q2 GDP on August 28, as the quarterly rate was surprisingly revised up to -0.7 percent from -0.8 percent. At that point, the British pound rallied into the start of the US trading session, but subsequently ran into resistance and ended the day lower. This suggests that if GDP is revised higher than -0.6 percent, the British pound could gain, but ultimately, readings in line with expectations shouldn’t have a large impact on trade."