Economy “does feel stuck”, says Treasury spokesperson, after UK GDP is unchanged in JulyThe pound has weakened since today’s GDP report showed the UK economy failed to grow in July.Sterling is down 0.2% at $1.355 against the US dollar this morning.If the third quarter is not going to be a disaster for the UK economy, then growth in August and September will need to do the heavy lifting.The pound is extending losses on this news and is eroding some of Thursday’s gains. For now, GBP/USD is hanging on to $1.3550, however, if bond yields start to rise on the back of this data, then we could see pound weakness later on Friday. The pound is the third worst performer in the G10 FX space so far today. Continue reading...