- UK GDP grew by 0.4% month-on-month in May, compared with an estimated 0.2%.
- GBP/USD holds above 1.2850 following UK data.
The UK economy grew by 0.4% in May after stagnating in April, according to the latest data released on Thursday by the Office for National Statistics (ONS). The data beat market expectations of a 0.2% growth in the reporting period.
Meanwhile, the Services Index (May) stood at 1.1% 3M/3M compared to 0.9% in April and 1.0% in provided.
Other UK data showed that monthly industrial production and manufacturing output rebounded by 0.2% and 0.4% respectively in May. Both readings were in line with consensus expectations.
Separately, the UK goods trade balance came in at -GBP17.9717 billion MoM in May versus -GBP16.18 billion expected and -GBP19.442 billion prior.
Market reaction to UK data
The Pound Sterling is not affected by the economic data from the United Kingdom. At the time of publication, the GBP/USD is trading 0.15% higher on the day at 1.2861.
Pound Sterling PRICE Today
The table below shows the exchange rate of the British Pound (GBP) against major currencies today. The British Pound was the strongest currency against the Japanese Yen.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | -0.06% | -0.10% | 0.02% | -0.01% | -0.20% | -0.22% | -0.06% | |
| EUR | 0.06% | -0.03% | 0.09% | 0.07% | -0.13% | -0.14% | 0.02% | |
| GBP | 0.10% | 0.03% | 0.12% | 0.10% | -0.10% | -0.12% | 0.06% | |
| JPY | -0.02% | -0.09% | -0.12% | -0.04% | -0.23% | -0.28% | -0.08% | |
| CAD | 0.01% | -0.07% | -0.10% | 0.04% | -0.22% | -0.22% | -0.05% | |
| AUD | 0.20% | 0.13% | 0.10% | 0.23% | 0.22% | -0.03% | 0.16% | |
| NZD | 0.22% | 0.14% | 0.12% | 0.28% | 0.22% | 0.03% | 0.18% | |
| CHF | 0.06% | -0.02% | -0.06% | 0.08% | 0.05% | -0.16% | -0.18% |
The heatmap shows percentage changes of major currencies. The base currency is selected from the left column, while the quote currency is selected from the top row. For example, if you choose the British Pound from the left column and move along the horizontal line to the US Dollar, the percentage change shown in the chart will represent the GBP (base)/USD (quote).
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
