IMF pared growth forecast for the UK economy - Scotiabank

Analysts at Scotiabank explained that the IMF pared its growth forecast for the UK economy after the soft Q1 outcome.

Key Quotes:

"But markets have not paid too much attention to the report, keeping the GBP well-supported against the USD and EUR on the session so far, preferring instead to wait for this week’s Q2 GDP report (+0.3% expected, after +0.2% in Q1)."

"The UK Trade Sec. is visiting the US to lay the groundwork for a post-Brexit trade deal (nor formal talks can take place until Brexit is complete)."