GBP review

Sterling clocked a seven-week high above $1.51 for the second session in a row. Recent gains in the pound will be tested by Britain's initial estimate of first quarter growth on Tuesday. Forecasts call for growth in Europe's No. 3 economy to slow to a 0.5 percent pace from a 0.6 percent rate in the fourth quarter of last year. 

On the eve of the growth data, a gauge of U.K. factory orders inched higher to a reading of 1 from zero which fell short of forecasts of 4.