The British pound dropped against the currencies of Europe and Switzerland in early European deals on Wednesday. As of now, the pound is worth 0.9044 against the euro and 1.6461 against the franc, compared to Tuesday's close of 0.9028 and 1.6493, respectively. If the UK currency slides further, it may target 1.645 against the franc and 0.910 against the euro.
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May 15, 2026 15:25 ET Apart from the confirmation of Kevin Warsh as the next Fed chair, the main news on the economics front this week included key price data from the U.S. and the first quarter economic growth figures from major economies. Both consumer prices and producer costs have started to reflect the effect of supply shocks due to the Middle East conflict. In Europe, GDP data was in focus, while inflation data from China dominated the news flow in Asia.