Buying sentiment towards the British Pound was dealt a severe blow on Friday following reports that the U.K economy grew much slower than expected in Q1.
U.K GDP growth slowed to 0.1% in the first quarter, much worse than the 0.3% market expectations and its weakest since 2012. While the snow had some negative impacts on GDP, the bad weather really can’t bear all the blame — its effects on growth were small. Today’s dismal GDP figures have not only dented confidence in the health of the U.K economy, but also the Bank of England’s ability to raise interest rates in May. With the Pound… Read More