LONDON May 25 Sterling edged lower against the
dollar on Thursday, after data showed Britain's economy slowed
more than previously thought in the first quarter of this year.
Gross domestic product grew by just 0.2 percent compared
with an earlier estimate of 0.3 percent. Most economists polled
by Reuters had forecast the rate of growth would stay unchanged,
which already marked a steep slowdown from the rapid 0.7 percent
pace achieved in the final three months of 2016.
The pound, which hit a day's high of $1.3012 ahead
of the data, fell more than 30 ticks to $1.2980 after the data.
Gilt futures rose about 10 ticks, hitting a session high of
128.93, while the FTSE 100 index touched a
session low and traded 0.2 percent lower. British mid caps
were also down 0.2 percent.
(Reporting by Ritvik Carvalho, Dhara Ranasinghe, and Kit Rees)