LONDON: Sterling retreated from 3-1/2 month highs against the euro and fell against the dollar on Thursday after data showed business investment in Britain dropping in annual terms for the first time in three years amid uncertainty around the Brexit vote.
The Office for National Statistics confirmed the economy grew 0.4 percent in the January-March period, as expected in a Reuters poll. Business investment fell by 0.4 percent year-on-year in the first quarter after rising 3.0 percent in the fourth quarter of last year.
Sterling fell to the day's low of $1.4677 shortly after the data was released, having traded at $1.4720 beforehand. It had struck a three-week high of $1.4738 earlier in the London session.
The euro rose 0.3 percent to 76.10 pence, rebounding from a 3 1/2 month low of 75.66 pence struck on Wednesday.
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