UK GDP grows 0.1% month on month in May, Ebury says recovery still fragile

The UK's GDP in May increased by 0.1% month on month, in line with market expectations. Ebury stated that the data reflects that the recovery is still fragile. The tense situation in the Middle East has kept businesses vigilant. According to media reports, Prime Minister elect Burnham may appoint current Home Secretary Mahmood as Chancellor of the Exchequer, causing the EUR/GBP to drop to a 13 month low.