UK GDP contracts 0.4% q/q in April, GBP/USD falls back to 1.2700

The UK GDP monthly release showed that the economy contracted 0.4% in April, coming in at % versus -0.1% previous.

Meanwhile, Index of services (Apr) came in at 0.0% vs +0.1% m/m expected and Index of services (Apr) arrived at +0.3% vs +0.3% 3m/3m expected and 0.3% last.