British Economy Outpaces Expectations, Sterling Gains Momentum

The British economy grew by 0.2% in March, surpassing economists' expectations of a flat rate. As a result, the pound gained against the U.S. dollar, briefly reaching $1.328, and achieved a six-week high against the euro.

The British economy showcased unexpected resilience in March, growing by 0.2%, a figure that outperformed economists' predictions of no change.

This positive economic news propelled the pound to strengthen against global currencies, nudging it up to $1.328 against the U.S. dollar, a notable rise from its intraday figures.

Meanwhile, sterling managed to offset earlier losses against the euro, maintaining its position when trading at 84.29 pence, reflecting broader economic confidence.

(With inputs from agencies.)