The Pound Sterling (GBP) weakens against a majority of its peers, except the Euro (EUR), as the United Kingdom (UK) flash S&P Global/CIPS Purchasing Managers’ Index (PMI) data for November surprisingly declined and the Retail Sales data for October contracted at a faster-than-expected pace.

The pound tumbled on Friday after data showed British business output in November shrank for the first time in more than a year, and retail sales also fell by much more than expected in October. Sterling hit its lowest on the dollar since May,