Euro hits 3-month low vs sterling on rate outlook, UK data

LONDON: The euro fell to a three-month low versus sterling on Thursday on concerns about the possibility of a European Central Bank interest rate cut and better-than-expected UK growth data.

The euro fell 1.2 percent on the day to hit 84.09 pence, its lowest since late January, having earlier broken below chart support at 84.46 pence, the 100-day moving average.

The pound rose broadly after data showed the UK economy avoided recession after growing by 0.3 percent in the three months to March, well above forecasts for a 0.1 percent rise.