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DirectThe pound fell to its lowest level in more than two years during Friday's trading session, after negative economic growth data.
At 12:06 GMT, the British pound lost about 0.5% against the US dollar to reach $ 1.2070, after recording a level of $ 1.2056 earlier in trade, its lowest level in more than two years.
The British currency is expected to show weekly losses of about 1%.
Since the election of British Prime Minister Boris Johnson on July 24, the pound has lost about 2.7% against the dollar.
The British currency also fell against the euro by around 0.7% to 0.9279 GBP, its lowest level since 2017.
The data published today reveal that the British economy contracted in the second quarter of this year for the first time since the fourth quarter of 2012.
Services activity slowed to a three-year low of 0.1%, while construction activity fell 1.3% and industrial production declined 1.4%, according to the data.
On the development of Brexit, the Prime Minister said yesterday that the EU had time to renegotiate the withdrawal agreement, 84 days to leave the UK on October 31.
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