GBP/USD pares some of earlier against after disappointing data.

  • Industrial production rose 0.1% mom, 2.2% yoy in February, below expectation of 0.4% mom, 2.9% yoy.
  • Manufacturing production dropped -0.2% mom, rose 2.5% yoy, below expectation of 0.2% mom, 3.3% yoy.
  • Construction output dropped -1.6% mom in February versus expectation of 0.7% mom.
  • Visible trade deficit narrowed to USD -10.2b in February versus expectation of GBP -11.9b.

While GBP/USD retreats after hitting 1.4222, it’s still on track to 1.4243 as long as 1.4144 minor support holds.

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