Cable trades down after Osborne's announcement

Source: WBP Online
© reuters
The Chancellor of the Exchequer, George Osborne, presented negatively adjusted expectations for the economic growth in the UK. The government forecasted the 2% growth for 2016, whilst previously the growth rate had been expected at the 2.4% level. The prediction for 2017 was diminished to 2.2%. The GBP/USD pair lost 0.64% down to $1.4067 after the announcement. 
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