The pound euro (GBP/EUR) exchange rate is falling after 6 days of gains.
The euro is rising after data showed that Q1 GDP grew faster than expected at 0.4% QoQ, up from 0.2% in Q4 2024 and 0.2% forecast.
Germany’s GDP rose 0.2% in Q1, while the French GDP rose 0.1%. Spain and Lithuania added 0.6%.
The ECB is unlikely to change its outlook based on the data, with another rate cut in June expected.
The pound is falling as UK house prices fell by 0.6% in April, marking the largest monthly fall in over 18 months.
The fall comes after the stamp duty house tax increased last month.