Following the release of the March Gross Domestic Product (GDP) data on Friday, UK Finance Minister Jeremy Hunt said, “good news the economy is growing, but need to stay focus on tax, labor supply and productivity.”

“We will keep going until the job is done and we have the high wage, high growth economy we need,” Hunt added.

Market reaction

GBP/USD has bounced off daily lows at 1.2506 on the UK data releases, now trading at 1.2520. The spot is up 0.10% on the day.