Published: 2024-12-13T20:39:14.000Z
North American Summary and Highlights 13 December
Senior Economist , North America
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Overview - GBP was weaker after a decline in UK GDP but the EUR was mostly firmer.
European and North American sessions
October UK GDP was weaker than expected with a 0.1% decline, and the GBP initially dipped, though EUR/USD was supported by less weak than expected industrial production data, moving above 1.05 in early North America. This saw GBP/USD erase its post-GDP losses but with EUR/USD unable to hold above 1.05, GBP/USD saw renewed weakness, bottoming just above 1.26. EUR/GBP saw steady gains, moving comfortably above .83. EUR/CHF was also firmer near .9370.
USD/JPY was firmer as were UST yields, reaching 153.50 in Europe and extending to 153.70 in North America. AUD and CAD were firmer in Europe but largely erased their gains in North America.