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Caxton FX observed that sterling is down by more than a cent against both the euro and the dollar, with investors having factored in greater growth than the 0.1 per cent identified.
Senior analyst at the firm Duncan Higgins explained that the data did provide a boost to the UK economy, but there has been little indication of strong growth for the first three months of 2010.
"Although the UK is out of recession, the figure will be subject to change and there is little room left for a downward revision," he remarked.
Meanwhile, Mark Bolson of Travelex said investors are likely to be "disappointed" by the figures, particularly in light of the "huge amount of stimulus" used to boost the economy.
Posted by Greg Secker
