• UK economy expanded at a softer pace than expected in February.
• GBP/USD stays within a touching distance of 1.3000.

The data published by the UK's Office for National Statistics showed on Monday that the real Gross Domestic Product grew by 0.1% on a monthly basis in February. This print followed January's expansion of 0.8% and missed the market expectation of 0.3%.

Other data from the UK revealed that the Manufacturing Production and Industrial production contracted by 0.4% and 0.6%, respectively, in the same period. Finally, the UK's Goods Trade Balance improved to £-20.594 billion from £-23.898 billion in January.

Market reaction

The British pound stays on the back foot after these readings and the GBP/USD pair was last seen posting small daily losses at 1.3016.