GBP/USD Steady After GDP

U.K. growth in Q4 was +0.5 percent on the quarter and +2.7 percent on the year. The first estimate was +2.6 percent. Slight declines in production and construction reduced the expansion. The U.K. services sector is the main driver of growth. Output slowed to 0.1 percent in November. Bank of England policy officials expected growth to slip a bit into the fourth quarter. The full year U.K. GDP data for 2014 was the best year of expansion since before the financial crisis. GBP/USD is trading little changed Tuesday at 1.5083. Chatter is beginning about the U.S. Federal Reserve meeting this week.