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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.