March 27, 2008
US 4th quarter GDP came out in line with the market expectations today, showing growth of only 0.6% q/q. While some analysts took the news negatively, others were spurred on by the fact that the number was still in positive territory. Despite the confirmation of slowed growth, the US Dollar showed strength on the news. The Pound Sterling notably lost out to the USD after the release, trading down to 2.0020, off from session highs of 2.0185.