A surprise upgrade to U.K. growth last quarter helped the pound steady after a horrible month in which it has shed six cents against the resurgent greenback. March debuted with sterling at $1.54. But as British inflation receded to record lows and uncertainty ahead of May elections gnawed, the pound hit a mid-month bottom of $1.46, its weakest in five years. Sterling today seesawed around $1.48, helped by news that Britain’s economy fared a bit better, getting revised to a 0.6% quarterly rate from the last estimate of 0.5%. The broader outlook remains shaky for the pound on uncertainty over the makeup on the next U.K. administration and what policies it would pursue.
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