UK confirms move into a technical recession
- UK Q4 GDP data confirmed the country’s 1st recession in almost four years.
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- UK Q4 GDP data confirmed the country’s 1st recession in almost four years.
The Pound Sterling (GBP) remained defensive against the US Dollar (USD) for the third consecutive week, as the GBP/USD entered a downside consolidation phase below 1.2700.
Meeting like these are considered a sign Tokyo is moving closer to intervening in the currency market.
On Thursday, the People’s Bank of China (PBoC) set the USD/CNY central rate for the trading session ahead at 7.0948 as compared to the previous day's fix of 7.0946 and 7.2259 Reuters estimates.
Here is what you need to know on Thursday, March 28: Major currency pairs continue to fluctuate in familiar ranges in the second half of the week.