The pound is submerged to the lowest level against the US dollar since June 2017

Hard times: The pound has had a difficult week amid fears of a Brexit without treatment and mixed economic results

The pound remains under pressure with the threat of a Brexit without treatment on the horizon and a tentative economic growth.

The latest figures released by the Office of National Statistics reveal that Britain's gross domestic product increased 0.4 percent in the last quarter, compared with 0.2 percent between January and March.

While the rate of economic growth increased and was in line with expectations, the pace of growth slowed from 0.3 percent to 0.1 percent between May and June.

Against the US dollar, the pound sterling fell 0.39 percent to around $ 1.27 today, which is the lowest since June 2017.

Hard times: The pound has had a difficult week amid fears of a Brexit without treatment and mixed economic results

Hard times: The pound has had a difficult week amid fears of a Brexit without treatment and mixed economic results

Earlier this week, the pound fell to a nine-month low against the euro and is currently flat at around € 1.11.

The weakness of the pound means that British holidaymakers will not see their money spread so far in Europe and throughout the United States.

Jacob Deppe, chief operating officer of Infinox, said: "Growth in the second quarter may be stronger than the first, but in June the economy almost vanished.

"This is not a good omen for the third quarter, even more after last week's interest rate rise.

& # 39; Mark Carney and the Monetary Policy Committee will be a little angry given the weakness of the June data.

"The Bank of England has raised rates just when the economy, it seems, is beginning to lose momentum.

"With the Pound taking a beating as the probabilities of a Brexit without treatment are shortened, and the mediocre economy in June, the decision to raise rates seems increasingly unfortunate."

Mr. Deppe added: "It is safe to say that another rate increase is out of control until 2019. The pound's response to the data said it all."

Low yield: the pound is hovering around $ 1.27 against the US dollar

Low yield: the pound is hovering around $ 1.27 against the US dollar

Low yield: the pound is hovering around $ 1.27 against the US dollar

Regarding the future outlook for the pound, David Madden, an analyst at CMC Markets, told This is Money: "Sterling is likely to remain low against the US dollar, as the US economy is working well. .

"The financial crisis in Turkey has affected the euro, so sterling could not fall so much against the euro.

"We have seen a slightly firmer pound as a result of GDP figures, and it seems that the respectable growth figures encouraged buyers to enter the fold."

Viraj Patel, an FX startegist at ING, told This is Money: "We expect the pound to remain under pressure in the coming months, especially before the crucial Brexit events in September and October (Brexit speaks with the EU , Brexit summits and party conferences)

"We expect the GBP / USD to fall to 1.27 and GBP / EUR to move to 1.08-1.09 until we have clarity about the Brexit negotiations.

"Things could get worse for the pound if it becomes a central scenario that the UK and the EU can not reach a Withdrawal Agreement (we have GBP / USD at 1.20 and GBP / EUR at 1.05 here)" .

When the pound falls, the FTSE 100 index usually enjoys an impulse, but this is not the case so far.

Connor Campbell, analyst at SpreadEx, said: "Sterling's fights have often allowed the FTSE to register gains against losses elsewhere this month.

"Not today, with the UK index falling back below 7700 after dropping 0.6 percent, a decline just a little bit better than the 0.8 percent of the slides seen by the DAX and the CAC."

Outlook: analyst David Madden said the pound is likely to remain low against the dollar

Outlook: analyst David Madden said the pound is likely to remain low against the dollar

Outlook: analyst David Madden said the pound is likely to remain low against the dollar

Sectors: Production in the construction sector in Great Britain increased by 0.9 percent, according to ONS data

Sectors: Production in the construction sector in Great Britain increased by 0.9 percent, according to ONS data

Sectors: Production in the construction sector in Great Britain increased by 0.9 percent, according to ONS data

In its latest series of figures for the economy, the ONS said that growth in the country's production sector fell by 0.8 percent due to a fall in the manufacturing industry, particularly in machinery, metal products and transportation equipment. .

The service sector, which accounts for more than three-quarters of the UK's economic output, grew by 0.3 percent in the three months to June.

Production in the construction sector increased by 0.9 percent.

The ONS said: "Summing up of these quarterly movements, the underlying trend in real GDP is one of slowing growth.

"The UK economy grew 0.6 percent in the first half of 2018, compared to the second half of 2017, continuing the downward trend seen since the second half of 2014."

Figures of ONS: GDP growth in the United Kingdom has slowed, according to this chart

Figures of ONS: GDP growth in the United Kingdom has slowed, according to this chart

Figures of ONS: GDP growth in the United Kingdom has slowed, according to this chart

Christian Jaccarini, senior economist at the Center for Economic and Business Research, said: "Today's data shows that the economy recovered after a first quarter hampered by the weather.

"However, the UK's economic outlook remains mixed at best, the uncertainty related to Brexit will continue to weigh on the growth of investment, while the weakness of the renewed pound supports inflation."

Warnings this month from Bank of England Governor Mark Carney and Trade Minister Liam Fox that the prospect of an untreated Brexit was growing also triggered the recent fall of the pound.

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