UK economy grew in August
GBP/USD rose 0.1% to 1.2323 after the UK economy registered a 0.2% increase in August, according to data released earlier on Thursday, partially recovering from a sharp fall. 0.6% in July.
This growth reduces the likelihood of a recession starting as early as the July-September period, with the ONS saying the economy would need to grow by 0.2% in September to avoid contraction in the third quarter.