The British pound weakened against the other major currencies in the early European session on Friday, in the wake of weak economic data from U.K. for February.

Data from the Office for National Statistics showed that U.K. industrial production declined unexpectedly in February. Industrial output dropped 0.7 percent month-on-month in February, confounding expectations for an increase of 0.2 percent. Production had declined 0.3 percent in January.

Year-on-year, industrial production growth slowed to 2.8 percent from 3.3 percent in January. Economists had forecast 3.7 percent increase.

Manufacturing output dropped only 0.1 percent after easing 1 percent in January. Nonetheless, the drop was in contrast to the expected growth of 0.3 percent.

Growth in manufacturing accelerated to 3.3 percent from 2.6 percent, but slower than the expected 3.9 percent.

Also, the UK visible trade deficit widened to a five-month high in February. The visible trade deficit increased unexpectedly to GBP 12.46 billion in February from GBP 11.97 billion in the prior month. The shortfall was forecast to narrow to GBP 10.9 billion.

This was the biggest deficit since September 2016.

The trade in services showed a surplus of GBP 8.78 billion compared to GBP 8.99 billion in the previous month.

Meanwhile, the European stocks fell with banking and mining stocks pacing decliners, after the U.S. military launched strikes inside Syria, fueling concerns of an escalation in the Syrian civil war.

Also, market participants awaited the release of the latest U.S. jobs report and the outcome of talks between the U.S. and Chinese leaders.

In the Asian trading today, the pound held steady against its major rivals.

In the European trading, the pound fell to an 8-day low of 1.2419 against the U.S. dollar and a 2-day low of 1.2486 against the Swiss franc, from early highs of 1.2477 and 1.2545, respectively. The pound may test support near 1.21 against the greenback and 1.22 against the franc. Against the euro, the pound dropped to 0.8563 from and early high of 0.8526. If the pound extends its downtrend, it is likely to find support around the 0.86 region.

The pound edged down to 137.37 against the yen, from an early high of 138.34. This may be compared to an early 3-day low of 137.29. The pound is likely to find support near the 136.00 region.

Looking ahead, U.S. and Canada jobs data for March, Canada Ivey PMI for March, U.S. wholesale inventories data for March and consumer credit for February are slated for release in the New York session.

At 10:00 am ET, Bank of Canada Governor Stephen Poloz and Bank of Canada Senior Deputy Governor Carolyn Wilkins will hold a press conference on Monetary Policy Report, in Ottawa.

At 11:15 am ET, Federal Reserve Bank of New York President William Dudley is expected to speak on "The State of Financial Regulation and the Potential for Reform" before a luncheon organized by the Griswold Center for Economic Policy Studies, Princeton University - 1, in New York.

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