UK data update, bargain hunters buying up GBP/USD - Scotiabank

Analysts at Scotiabank explained that UK industrial production rose 0.5% in Jun but manufacturing was flat (manufacturing has yet to post a monthly gain in 2017) and construction output fell 0.1% in the month.

Key Quotes:

"The UK trade deficit widened (versus expectations of a small narrowing) to –GBP12.7bn in Jun. Overnight, the RICS house price index suggested the housing market was flat last month, adding to recent trends indicating a sustained slow-down is underway. Sterling weakness was limited to the mid-1.29s before bargain hunters stepped in to buy."