GBP/USD slips on firm U.S. growth report

The Sterling depreciated against the Greenback following the data the U.S. economy overshoot the expectations in the second quarter, fueling rumours the Fed will increase interest rates earlier than projected. The Cable was trading at 1.6900 during the U.S. trading session, above the low at 1.6889 and below the high at 1.6955. The Commerce Department announced the U.S. GDP grew at the annual rate of 4% in the second quarter, well ahead of the projected level of 3%.