The pound euro exchange rate (GBP/EUR) rose after losses yesterday.
The pound is rising firmly after UK GDP data showed that the economy grew by 0.6% QoQ in Q2, after growing by 0.7% in Q1. This was in line with estimates.
On a monthly basis GDP stalled at 0% in June after expanding 0.4% MoM in May.
The data suggests that the UK economy is recovering in line with estimates after weakness at the end of last year.
The euro fell in quiet holiday trade owing to a public holiday. Risk sentiment favours the pound over the euro.
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