GBP/MYR settles below 3-week high, posts weekly gain

The GBP/MYR currency pair settled below recent high of 5.7276, its strongest level since July 24th, after the latest GDP growth data.

The British economy grew 0.4% month-over-month in June, after a 0.1% contraction in the prior two months and exceeding expectations of a 0.1% growth.

Services output contributed to the overall growth the most, rising 0.3%.

In annual terms, UK’s GDP grew 1.4% in June, the fastest rate since February.

Meanwhile, Malaysia’s gross domestic product grew 2.1% quarter-on-quarter in Q2 of 2025, picking up from a 0.7% growth in Q1.

It has been the steepest economic expansion since Q2 of 2024.

The exotic Forex pair gained 0.17% for the week.