Pound Advances vs. Dollar on UK GDP, Falls vs. Euro & Yen

The Great Britain pound advanced today versus the US dollar after the second revision of GDP data confirmed that the nation’s economy emerged from recession. At the same time, the currency weakened against the euro and the Japanese yen.
UK gross domestic product grew 0.3 percent in the first three months of 2013 from the fourth quarter of 2013, according to the second revision. The reading was unchanged from the preliminary estimate. The data added to optimism about Britain’s economy and increased the appeal of the pound.
The sterling advanced against the dollar after the news. Yet the euro and the yen were too strong themselves and outperformed the UK currency.
GBP/USD went up from 1.5047 to 1.5109 as of 20:32 GMT today. EUR/GBP advanced from 0.8543 to 0.8558. GBP/JPY declined from 155.21 to 153.82, while its daily low was at 151.76.

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