Gbp news tonight

Here are the latest news updates on the British Pound (GBP) for tonight:

GBP/USD:

• The GBP/USD pair is trading at 1.3145, down 0.15% from yesterday's close.
• The pair has been under pressure after the UK's Office for National Statistics (ONS) reported a larger-than-expected trade deficit in January.
• The deficit widened to £4.3 billion, compared to a forecast of £3.5 billion, which has raised concerns about the UK's trade performance.

GBP/EUR:

• The GBP/EUR pair is trading at 1.1745, down 0.12% from yesterday's close.
• The pair has been affected by the ongoing uncertainty surrounding the UK's exit from the European Union (Brexit).
• The UK and EU are still negotiating the terms of their future relationship, and the lack of progress has led to increased volatility in the currency markets.

Economic Data:

• The UK's Office for National Statistics (ONS) reported that the country's GDP grew by 0.1% in the fourth quarter of 2022, slightly below expectations.
• The ONS also reported that the UK's trade deficit widened to £4.3 billion in January, compared to a forecast of £3.5 billion.
• The Bank of England (BoE) is expected to release its latest inflation report tomorrow, which could provide further insights into the UK's economic outlook.

Market Sentiment:

• The GBP has been under pressure in recent days due to concerns about the UK's economic outlook and the ongoing uncertainty surrounding Brexit.
• The pair is expected to remain volatile in the coming days, with market participants closely watching the developments in the UK's trade negotiations with the EU.
• The BoE's inflation report tomorrow could provide some direction for the GBP, with market participants looking for clues on the central bank's future monetary policy decisions.