Sterling rises after UK economy beats expectations and exits recession

The pound rose on Friday after data showed the British economy beat expectations in the first quarter of the year, growing 0.6 per cent and leaving behind 2023’s mild recession.

Sterling was last up 0.1 per cent at $1.2537, having traded at $1.2516 before the figures were released. The pound is slightly higher so far in May but has fallen 1.5 per cent this year as the dollar has risen on the back of a strong US economy.

The Office for National Statistics data showed that Britain’s...