UK GDP Falls 0.1% in April, Pound Edges Higher

The UK monthly GDP for April came in at -0.1% compared to the previous month, slightly better than the expected decline. The pound attracted mild buying interest against major peers following the release.

GBP/USD clawed back most of its earlier losses and traded near recent highs. Markets had priced in a softer print, so the marginally less negative figure provided some relief for sterling.

Traders now focus on the Bank of England's policy outlook, with the data unlikely to shift near-term monetary expectations significantly.