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