LONDON — Sterling is losing some of its earlier momentum against the dollar on Friday morning after worse than expected GDP figures.
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The pound is losing momentum against the dollar after worse than expected GDP numbers
GDP grew by 0.3% in the first quarter, compared to expectations of 0.4%.
The pound rose strongly against the dollar in early trade on Friday to reach as high as $1.2944. But sterling is pulling back after GDP figures released at 9.30 a.m. BST (4.30 a.m. ET) showed the economy grew by just 0.3% in the first quarter, less than economists expected.
Here's how the pound looks against the dollar at 9.38 a.m. BST (4.38 a.m. ET):
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