Mid-Day Report: Sterling Soar on GDP, Euro Cautious ahead of Stress Test Results

Jul 23 2010

Sterling soars today as boosted by tremendously well Q2 GDP reading. GDP rose 1.1% qoq, 1.6% yoy comparing to expectation of 0.6% qoq, 1.1% yoy. This marked the third consecutive quarter of recover as the economy was supported by higher output by business services, finance and construction. The data also