The pound is weaker against the euro and the dollar this morning, mostly due to strength from the other currencies and disappointing economic data.
A series of data was released for the UK this morning, including GDP figures. They showed that the British economy grew 3.6% in the 3 months to May, the strongest growth since November but slightly less than market forecasts of 3.9%. This was mainly driven by retail sales and sales of food and beverages.
Industrial production figures disappointed, showing a 0.8% rise month-on-month, with manufacturing activity falling by 0.1%. Balance of trade figures will be released later today.
