The British pound weakened against other major currencies in the European session on Friday, after the U.K. economy contracted marginally for the second straight month in October largely reflecting the fall in industrial production.
Data from the Office for National Statistics showed that U.K. real gross domestic product shrank unexpectedly 0.1 percent in October, the same pace of decline as in September. GDP was forecast to grow 0.1 percent.
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Forex News
May 22, 2026 14:46 ET Minutes of the latest Fed policy session was the highlight of the week along with survey data on the U.S. housing market. In Europe, survey data signaled the trends in the euro area private sector. Further, consumer price inflation data from the U.K. was in focus. In Asia, various economic indicators from China drew attention to the health of the economy.