U.K. Pound Rallies After GDP Beats Expectations

By Yomna Yasser On Apr 25, 2013

The U.K. pound rallied against most major currencies on Thursday, after gross-domestic-product data showed the country avoided slipping into a triple-dip recession in the first quarter. The economy expanded by 0.3%, exceeding expectations of a 0.1% improvement. The pound rose to $1.5424 from trading around $1.53 ahead of the data and up from $1.5265 in late North America trade on Wednesday. The pound rose to 1.1807 euros, up from 1.17 euros ahead of the release.

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