{"id":114407,"date":"2023-05-12T09:57:59","date_gmt":"2023-05-12T08:57:59","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=114407"},"modified":"2023-05-13T08:33:48","modified_gmt":"2023-05-13T07:33:48","slug":"107560-gbp-eur-pound-rises-after-q1-gdp-growth","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/107560-gbp-eur-pound-rises-after-q1-gdp-growth\/","title":{"rendered":"GBP\/EUR: Pound rises after Q1 GDP growth"},"content":{"rendered":"<ul>\n<li><strong><a href=\"https:\/\/currencylive.com\/exchange-rate\/gbp-pound-sterling-live-exchange-rate\/\">Pound (<\/a>GBP) rises after the economy grows<\/strong><\/li>\n<li><strong>BoE hiked rates by 25 bps<\/strong><\/li>\n<li><strong><a href=\"https:\/\/currencylive.com\/exchange-rate\/eur-euro-live-exchange-rate\/\">Euro<\/a> (EUR) falls despite hot inflation from France \/ Spain<\/strong><\/li>\n<li><strong>ECB\u2019s hawkish tone supports the euro<\/strong><\/li>\n<\/ul>\n<p>The Pound Euro (GBP\/EUR) exchange is rising after two days of losses. The pair fell -0.3% in the previous session settling on Thursday at \u20ac1.1457, after trading in a range between \u20ac1.1447 &#8211; \u20ac1.1549. At 07:35 UTC, GBP\/EUR trades +0.25% at \u20ac1.1486. The pair is set to rise across the week, marking the fourth straight week of gains.<\/p>\n<p>The pound is pushing higher after data UK showed GDP delivered a small game in the first three months of the year, reducing the likelihood of a recession. UK Q1 GDP rose 0.1% quarter on quarter, in line with forecasts.<\/p>\n<p>However, data from the Office of National Statistics also shade that March is GDP contracted by 0.3% weighed down by strike action in the education and healthcare sectors.<\/p>\n<p>Data comes after the Bank of England interest rate decision yesterday which saw the central bank hike interest rates by 25 faces points in line with forecasts. This marked the 12<sup>th<\/sup> straight interest rate rise and took the rate to 4.5%. The central bank kept the door open for a further rate hike in June if inflation remains sticky.<\/p>\n<p>The BoE also upwardly revised the GDP outlook for the year, saying that it no longer expects the UK economy to fall into recession this year. Today\u2019s Q1 GDP data supports the BoE\u2019s more upbeat view.<\/p>\n<p>There is no more high-impacting UK economic data due to be released today. Investors will look to a speech by BoE chief economist Phill Hue. Any comments surrounding inflation or monetary policy could influence the pound.<\/p>\n<p>The euro is edging lower after hotter inflation data which showed that inflation in France ticked higher to 5.9% year on year in April from 5.7% in March. Meanwhile, Spanish inflation also ticked higher to 4.1% annually.<\/p>\n<p>Broadly speaking, the euro remains supported by the hawkish outlook from the ECB after it raised interest rates last week and pointed to more hikes to come.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Pound (GBP) rises after the economy grows BoE hiked rates by 25 bps Euro (EUR) falls despite hot inflation from France \/ Spain ECB\u2019s hawkish tone supports the euro The Pound Euro (GBP\/EUR) exchange is rising after two days of losses. The pair fell -0.3% in the previous session settling on Thursday at \u20ac1.1457, after [&hellip;]<\/p>\n","protected":false},"author":163946598,"featured_media":5236,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1380,1379],"tags":[1395,1394,2410],"class_list":["post-114407","post","type-post","status-publish","format-standard","has-post-thumbnail","category-eur","category-gbp","tag-eur","tag-gbp","tag-gbp-eur"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.0 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>GBP\/EUR: Pound rises after Q1 GDP growth - Currency Live<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/currencylive.com\/news\/107560-gbp-eur-pound-rises-after-q1-gdp-growth\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Ileana Ionescu\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/107560-gbp-eur-pound-rises-after-q1-gdp-growth\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/107560-gbp-eur-pound-rises-after-q1-gdp-growth\\\/\"},\"author\":{\"name\":\"Ileana Ionescu\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/3d5cb0a6a22d357fc0b9ad562f35e75b\"},\"headline\":\"GBP\\\/EUR: Pound rises after Q1 GDP growth\",\"datePublished\":\"2023-05-12T08:57:59+00:00\",\"dateModified\":\"2023-05-13T07:33:48+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/107560-gbp-eur-pound-rises-after-q1-gdp-growth\\\/\"},\"wordCount\":348,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/107560-gbp-eur-pound-rises-after-q1-gdp-growth\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/100834-gbp-eur-eurozone-gdp-data.jpg\",\"keywords\":[\"eur\",\"gbp\",\"gbp\\\/eur\"],\"articleSection\":[\"EUR\",\"GBP\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2023\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/107560-gbp-eur-pound-rises-after-q1-gdp-growth\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/107560-gbp-eur-pound-rises-after-q1-gdp-growth\\\/\",\"name\":\"GBP\\\/EUR: Pound rises after Q1 GDP growth - 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Originally from Bucharest, Ileana most commonly transfers EUR to RON and speaks Romanian, English, Italian, Spanish and German.\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/author\\\/ileana-ionescu\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"GBP\/EUR: Pound rises after Q1 GDP growth - Currency Live","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/currencylive.com\/news\/107560-gbp-eur-pound-rises-after-q1-gdp-growth\/","twitter_misc":{"Written by":"Ileana Ionescu","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/currencylive.com\/news\/107560-gbp-eur-pound-rises-after-q1-gdp-growth\/#article","isPartOf":{"@id":"https:\/\/currencylive.com\/news\/107560-gbp-eur-pound-rises-after-q1-gdp-growth\/"},"author":{"name":"Ileana Ionescu","@id":"https:\/\/currencylive.com\/news\/#\/schema\/person\/3d5cb0a6a22d357fc0b9ad562f35e75b"},"headline":"GBP\/EUR: Pound rises after Q1 GDP growth","datePublished":"2023-05-12T08:57:59+00:00","dateModified":"2023-05-13T07:33:48+00:00","mainEntityOfPage":{"@id":"https:\/\/currencylive.com\/news\/107560-gbp-eur-pound-rises-after-q1-gdp-growth\/"},"wordCount":348,"image":{"@id":"https:\/\/currencylive.com\/news\/107560-gbp-eur-pound-rises-after-q1-gdp-growth\/#primaryimage"},"thumbnailUrl":"https:\/\/currencylive.com\/news\/wp-content\/uploads\/2019\/08\/100834-gbp-eur-eurozone-gdp-data.jpg","keywords":["eur","gbp","gbp\/eur"],"articleSection":["EUR","GBP"],"inLanguage":"en-US","copyrightYear":"2023","copyrightHolder":{"@id":"https:\/\/currencylive.com\/news\/#organization"}},{"@type":"WebPage","@id":"https:\/\/currencylive.com\/news\/107560-gbp-eur-pound-rises-after-q1-gdp-growth\/","url":"https:\/\/currencylive.com\/news\/107560-gbp-eur-pound-rises-after-q1-gdp-growth\/","name":"GBP\/EUR: Pound rises after Q1 GDP growth - Currency Live","isPartOf":{"@id":"https:\/\/currencylive.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/currencylive.com\/news\/107560-gbp-eur-pound-rises-after-q1-gdp-growth\/#primaryimage"},"image":{"@id":"https:\/\/currencylive.com\/news\/107560-gbp-eur-pound-rises-after-q1-gdp-growth\/#primaryimage"},"thumbnailUrl":"https:\/\/currencylive.com\/news\/wp-content\/uploads\/2019\/08\/100834-gbp-eur-eurozone-gdp-data.jpg","datePublished":"2023-05-12T08:57:59+00:00","dateModified":"2023-05-13T07:33:48+00:00","author":{"@id":"https:\/\/currencylive.com\/news\/#\/schema\/person\/3d5cb0a6a22d357fc0b9ad562f35e75b"},"breadcrumb":{"@id":"https:\/\/currencylive.com\/news\/107560-gbp-eur-pound-rises-after-q1-gdp-growth\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/currencylive.com\/news\/107560-gbp-eur-pound-rises-after-q1-gdp-growth\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/currencylive.com\/news\/107560-gbp-eur-pound-rises-after-q1-gdp-growth\/#primaryimage","url":"https:\/\/currencylive.com\/news\/wp-content\/uploads\/2019\/08\/100834-gbp-eur-eurozone-gdp-data.jpg","contentUrl":"https:\/\/currencylive.com\/news\/wp-content\/uploads\/2019\/08\/100834-gbp-eur-eurozone-gdp-data.jpg","width":1200,"height":675,"caption":"GBP\/EUR: Will Eurozone GDP Data Pull Euro Lower?"},{"@type":"BreadcrumbList","@id":"https:\/\/currencylive.com\/news\/107560-gbp-eur-pound-rises-after-q1-gdp-growth\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/currencylive.com\/news\/"},{"@type":"ListItem","position":2,"name":"GBP\/EUR: Pound rises after Q1 GDP growth"}]},{"@type":"WebSite","@id":"https:\/\/currencylive.com\/news\/#website","url":"https:\/\/currencylive.com\/news\/","name":"Currency Live","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/currencylive.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/currencylive.com\/news\/#\/schema\/person\/3d5cb0a6a22d357fc0b9ad562f35e75b","name":"Ileana Ionescu","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/6ed3a7a555c25b7a0a1f9e6aeb6380726362fd35ff3348679ee5989680828ff2?s=96&d=blank&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/6ed3a7a555c25b7a0a1f9e6aeb6380726362fd35ff3348679ee5989680828ff2?s=96&d=blank&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/6ed3a7a555c25b7a0a1f9e6aeb6380726362fd35ff3348679ee5989680828ff2?s=96&d=blank&r=g","caption":"Ileana Ionescu"},"description":"With a background in business journalism, Ileana works as a Junior Market Analyst for Currency Live and creates content that brings transparency to our audience. 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