12-May-24 17:30
Pound Sterling Lifted by UK GDP Data, Inflation Data Crucial
United Kingdom
The Pound Sterling posted net gains after stronger-than-expected first-quarter GDP data which pulled the UK economy out of recession, but failed to hold the gains. The Pound to Dollar (GBP/USD) exchange rate jumped to 1.2540 before settling around 1.2525 with the Pound to Euro (GBP/EUR) exchange rate at 1.1620 from 1.1635 highs.
Pound Sterling Lifted by UK GDP Data, Inflation Data Crucial
United Kingdom
The Pound Sterling posted net gains after stronger-than-expected first-quarter GDP data which pulled the UK economy out of recession, but failed to hold the gains. The Pound to Dollar (GBP/USD) exchange rate jumped to 1.2540 before settling around 1.2525 with the Pound to Euro (GBP/EUR) exchange rate at 1.1620 from 1.1635 highs.
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