Pound Sterling Rises Broadly After UK GDP Surprises Stronger in March

Pound sterling edged higher against a generally stronger US dollar during early European trade on Friday, rising against many other currencies after UK GDP surprised on the strong side of expectations for March and the opening quarter.

MT NewswiresMay 10 05:15 ET

U.K. Exits Brief Recession With Stronger-than-forecast 0.6% Growth in First Quarter

By Barbara Kollmeyer The U.K. economy grew 0.6% in the first quarter of 2024, exiting a technical recession, according to an initial estimate released by the Office for National Statistics on Friday.

MarketWatchMay 10 03:23 ET

U.K. Returns to Growth as War Shock Fades -- Update

The economy has turned a corner, U.K. premier Rishi Sunak said. "We know things are still tough for many people, but the plan is working, and we must stick to it," Sunak said.

WSJMay 10 02:49 ET

UK Preliminary GDP Expands 0.6% QoQ in Q1 Vs. 0.4% expected

The UK economy expanded 0.6% QoQ in the first quarter (Q1) of 2024 from a 0.3% contraction in the previous reading, the preliminary estimate released by National Statistics (ONS) showed Friday.

FXStreetMay 10 02:11 ET

Gauge for Current Conditions in Japan Slips in April: Economy Watchers Survey

The measure for household trends fell to 46.6 points from 49.4 in March due mostly to a drop in food and beverage to 47.8 from 53.1, the data showed.

MT NewswiresMay 10 01:52 ET

The two major asset management giants support the Bank of Japan's hawk, saying that interest rate hikes will exceed market expectations

The Zhitong Finance App learned that Ales Koutny, head of international interest rates at Vanguard, said that the market has underestimated the degree of hawkish policy the Bank of Japan needs to adopt this year to boost the struggling yen. His opinion is consistent with Pacific Investment Management (Pacific Investment Management), which is also a bond giant. Both believe that the Bank of Japan will raise interest rates by 75 basis points this year. Koutny believes that the Bank of Japan's benchmark interest rate will reach 0.75% at the end of the year from the current range of 0% to 0.1%, and will raise interest rates in June as soon as possible

Zhitong FinanceMay 9 23:27 ET