Agency: Despite weak UK economic growth data, the pound is still expected to rise this week

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On March 14, George Vessey, an analyst at Convera, said that the pound weakened today after the UK's economic growth data was worse than expected on Friday, but it is still expected to rise again against the dollar and rebound against the euro. Despite the slowdown in the UK economy, the Bank of England is likely to keep interest rates unchanged at next Thursday's meeting due to rising inflation risks, he said in a note. He said the Bank of England's cautious stance on rate cuts has led to interest rate expectations in the UK and the US in recent weeks in favour of GBP/USD. In addition, the pound recovered slightly against the euro this week after falling last week due to the escalation of the US-EU trade dispute.

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