• Q1 revised down by GBP 7.3 bln to -21.77 bln

Explains GBP drop along with GDP y/y downward revision

Apologies for late posting. Gremlins at work here

GBPUSD 1.6043 EURGBP 0.8418 as if you didn’t know

Add:

ONS also marking down 2012 GDP

  • Q3 2012 +0.6% vs +0.7%
  • Q4 2012 -0.3% vs -0.2%