Sterling's Surge: UK Economy Surpasses Expectations

Sterling rose for the fifth consecutive week against the euro after UK economic data surpassed expectations. The pound appeared to gain from better-than-expected GDP growth, propelled by Jaguar Land Rover's recovery post-cyberattack. Analysts emphasize reliance on further economic data to assess trajectory amidst potential interest rate cuts by the Bank of England.

The British pound saw an upswing on Friday, marking its fifth consecutive weekly rise against the euro, following unexpectedly strong growth data from the UK economy in November.

At $1.3402, the pound managed a 0.3% weekly uptick after a previous decline over two weeks, with the euro experiencing a fifth weekly slide against sterling to 86.69 pence.

The GDP growth, fueled by carmaker Jaguar Land Rover's full production return post-cyberattack and stable government fiscal stance, failed to fully assure investors of imminent Bank of England interest rate cuts, despite market speculation.

(With inputs from agencies.)