Pound Rises 0.2% as UK GDP Revision Confirms Strong Q1

The pound rose 0.2% against the euro on Tuesday, trading at €1.1612, after revised GDP data from the Office for National Statistics confirmed the UK economy accelerated in the first quarter.

The ONS said the economy gathered momentum in the three months through March, matching its earlier estimate.

Sterling has gained against the euro this year, supported by the Bank of England's higher interest rates and the UK economy's resilience compared with the eurozone. The euro has faced pressure from the European Central Bank's earlier rate cuts and weaker economic data across the region.

The Bank of England's next rate decision is the immediate focus for sterling. Markets expect no change at the upcoming meeting, with attention on any shift in guidance.

The euro was flat against the dollar, with EUR/USD near $1.09.