The Pound Sterling trims some of its Wednesday gains versus the US Dollar, dives by over 0.28% after solid US data and amid risk aversion, and augments the safe-haven appeal of the Greenback. At the time of writing, the GBP/USD trades at 1.3502, after peaking near 1.3545.
The UK Gross Domestic Product (GDP) grew by 0.1% MoM in May, following a 0.1% decline reported in April, the latest data published by the Office for National Statistics (ONS) showed on Thursday.
Scotiabank strategists Shaun Osborne and Eric Theoret note the British Pound (GBP) is slightly softer but supported by a sharp repricing of Bank of England (BoE) tightening.