Here's the chart showing sterling's slide below $1.29 as the GDP data was released. It's back above that level but still down on the day.
The FTSE 100 is off the day's highs, it's now up 0.4% - 26 points or so - at 7,097.93.
Pound down
US Dollar (USD)
USD/EUR - Today's data summary
% change
-0.01%
Price Euros
0.8855
Change
0.0000
As of 01:56 16 Feb 2019
USD/GBP - Today's data summary
% change
-0.01%
Price Pound sterling
0.7758
Change
0.0000
As of 01:56 16 Feb 2019
USD/JPY - Today's data summary
% change
0.00%
Price Yen
110.4600
Change
0.0000
As of 01:56 16 Feb 2019
Latest updates
Pound slides
The pound fell below $1.29 after the GDP data.
It is now holding its ground around that level.
The FTSE 100 is up nearly 1% at 7,140.89.
Pound rises
Sterling is up 0.21% against the dollar at $1.3095 after Prime Minister Theresa May won backing from MPs to renegotiate the UK's Brexit withdrawal agreement with Brussels.
It also ticked higher on the euro, up 0.13% at €1.1445.
Pound gives up gains
Sterling has lost momentum against the dollar after trading over $1.31 earlier this morning.
It is now up 0.11% against the greenback at $1.3080.
The pound has fallen 0.22% against the euro at €1.1532.
Sterling 'swagger' restored on possible Plan B backing
A report in The Sun newspaper that the DUP will back Theresa May’s "Plan B" Brexit deal at next Tuesday’s Commons vote has given sterling its "swagger", according to Spreadex financial analyst Connor Campbell.
He says this would mean the party’s 10 MPs "begrudgingly shifting their red line from no Irish backstop to a backstop with a specific time limit".
"This as Arlene Foster (pictured) and her fellow MPs try and avoid the potential of a softer Brexit if May’s plans flop once again."
The pound is ahead 0.21% against the dollar at $1.3093.
Pound rises above $1.31
It has been a good week for sterling which is up around 1.8% since Monday, bolstered by speculation that the UK may avoid a no-deal Brexit.
Overnight trading sent the pound up 0.53% against the dollar to $1.3133.
Sterling is 0.35% higher against the euro at €1.1598.
Pound ticks lower
Sterling is down 0.36% against the dollar at $1.3022.
It follows a sharp rise in the pound on Wednesday following reports that the prospect of a no-deal Brexit was subsiding.
Spreadex analyst Connor Campbell, said: "I think again it's a lot of hot air right now without much progress."
The pound is down 0.10% on the euro at €1.1473.
Pound rises above $1.30
Sterling is up 0.49% against the dollar at $1.3020 - the highest level for 10 weeks.
David Cheetham, chief Market analyst at XTB online trading, says: "There’s been further steady gains seen in the pound this morning, with the market moving up to its highest level of the week and breaking above the psychological $1.30 level.
"Reports that the Labour party are set to back an amendment designed to eliminate the prospect of a no-deal Brexit has provided more good news for sterling bulls, and the market is back trading at its highest level since November."
FTSE opens down, pound lower
The FTSE 100 has opened 0.36% lower at 6,838.25.
The FTSE 250 is 0.34% lower at 18,424.09.
Meanwhile, the pound is down against the dollar so for this morning - off 0.18% at $1.2858.
It is marginally off against the euro at €1.1295.
Sterling update
A quick update on sterling as the US markets open.
Against the dollar, the pound is now off the day's highs but still in positive territory - up 0.05% at $1.2867.