UK May GDP rose 0.1% MoM, matching market expectations. The pound was largely
steady after the release as attention remained on UK political developments.
Ebury said the data underline a still-fragile recovery. Renewed tensions in the
Middle East have kept firms on heightened alert. Earlier Thursday, media reports
that incoming prime minister Burnham may appoint current home secretary
Mahmood—seen as less supportive of expansionary fiscal policy—as chancellor
pushed EUR/GBP to a 13-month low.
