Sterling slips after mixed data

The British Pound fell on Wednesday, after the release of mixed economic data in the UK.

The UK's GDP monthly reading showed a growth by 8.7% in July, vs. 2.4% in June and beat forecasts of 8.1%.

While the GDP first estimate for the second quarter, showed a contraction of 20.4%, but slightly better than forecasts of -20.5%.

The UK's industrial production rose 9.3% in July, and the index of services fell 19.9%, while the goods trade balance posted a deficit of 5.1 billion pounds, higher than forecasts of -4.5 billion.

The coronavirus crisis is still weighing down on the UK, and the British government warned that a second coronavirus wave may hit multiple European countries.

As of 19:56 GMT, GBP/USD fell by 0.2% to 1.3022, after hitting a session-high of 1.3068 and a low of 1.3006.