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UK first quarter economic growth reading revised higher to 0. UK economic growth during the first quarter was revised higher as the Office for National Statistics introduced a new method of estimating construction output. The euro led broad gains against the dollar on Friday after EU leaders reached a major deal on how to handle the flow of migrants into member countries. A closely-watched leading indicator of Switzerland’s economy, the Kof Economic Barometer, climbed in June for the first time in three months, according to data published by the Swiss economic institute on Friday. Consumer confidence in the UK snapped a short-lived streak of improvement in June, according to a closely-watched survey.
Asia-Pacific currencies dropped virtually across the board in June as fears rose over the impending hit to economic growth from a US-China trade war. AFPAsia-Pacific stock indices were mixed following a positive day on Wall Street. Like a cool guy walking away from an explosion without looking back, General Electric shares have rocketed higher since its exit this week from the Dow Jones Industrial Average. Markets data delayed by at least 15 minutes. Financial Times’ are trademarks of The Financial Times Ltd.
The Financial Times and its journalism are subject to a self-regulation regime under the FT Editorial Code of Practice. There is no consensus on the scope of naming convention for different types of IRS. Even a wide description of IRS contracts only includes those whose legs are denominated in the same currency. It is generally accepted that swaps of similar nature whose legs are denominated in different currencies are called cross currency basis swaps.