THE POUND edged up against the euro after UK growth data saw the chance of a BoE rate cut decrease further, leaving the pairing trading at around €1.186.
The data also showed that the economy grew by 1.4 percent through 2019, up slightly from 1.3 percent growth in 2018.
Commenting on this, chief global strategist at Audacity Capital, Karim Yousfi noted:
“Few expected fireworks from a report that focuses on the final months of election and Brexit uncertainty.
“So this is more a case of not good, but good enough. With a clear majority of the Bank of England’s interest rate-setting grandees already reluctant to cut rates, this GDP print will give them no impetus to cut any time soon.