The pound dipped lower after witnessing a pickup in Britain's economic growth in the second quarter even though the reading was better than expected.
UK Crude Domestic Output (KDNK) reportedly fell 0.1% in the April to June period against 0.8% growth recorded in the first quarter, exceeding expectations for a 0.2% decline.
On a monthly basis too, the economy shrank 0.6% in June from 0.4% previously, better than expectations for a 1.2% rise.
On the other hand, the pound traded lower in the European session, subtracting its gains from the dollar's fall following Wednesday's disappointing US inflation data.
Meanwhile, the US dollar recovered, rebounding from 6-week lows against most major currencies.
The investors' attention is now also turning to the publication of data on user sentiment reviews in the United States by the University of Michigan, which will provide an overview of the financial stability of users in the country.
Despite the increase in the USD, trading in commodity currencies Aussie dollar, kiwi and loonie still maintained gains by trading more strongly in the European session.
