Pound falls back on economic figures

Despite figures confirming the UK officially exited recession after six quarters of negative growth, the rate of growth was worse than expected and the pound dropped 0.6% against the dollar to $1.614 and slipped to 1.146 euros. GDP figures released from the Office for National Statistics have historically been subject to revision. Meanwhile, the International Monetary Fund has raised its growth projection for the world economy this year from 3.1% to 3.9%.