U.K. avoids triple-dip recession.

The U.K.'s GDP recovered to grow a quarterly 0.3% in Q1 compared with a fall of 0.3% in Q4, topping expectations of +0.1% and ensuring that Britain avoided the ignominy of a triple-dip recession. The growth, tepid as it was, could reduce the pressure on the Bank of England to increase its QE program. The pound spiked following the GDP release and was +1.2% vs the dollar at the time of writing.