GBP/USD Trading Lower, IMF Cuts Growth

GBP/USD is trading at 1.3124, down 0.0137. The pair is trading near the session lows in a rangebound fashion. The International Monetary Fund (IMF) lowered the U.K. 2017 growth to 1.3 percent versus 2.2 percent previously. The IMF reduced 2016 global growth to 3.1 percent versus 3.2 percent citing issues related to Brexit. The IMF also cut 2017 global growth by 0.1 percent to 3.4 percent.