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Britain: disappointing data

Britain's Q1 final GDP was revised down to +0.3% y/y (vs. previous and expected +0.6%) and remained unchanged at +0.3% q/q. Current account deficit unexpectedly widened from 13.6B to 14.5B. 

As a result, sterling came under pressure, breaking below the $1.5300 mark. EUR/GBP jumped to 0.8530. 

Chart. UK GDP change q/q

Source: Forexfactory

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