Sterling rises after UK GDP growth beats forecast in March

The pound briefly extended gains against the U.S. dollar on Thursday after data showed the British economy grew faster than expected in March.

Official figures showed the UK economy grew 0.2% in March from February, compared to a flat reading of 0.0% expected by economists polled by Reuters.

Sterling rose 0.1% to $1.327 after rising to $1.328 after the data. Against the euro, sterling pared losses and was last trading flat at 84.29 pence after hitting a six-week high against the common currency earlier this week.