British pound falls to new two-year low as economy shrinks

New York ( CBS Marketwatch):The British pound on Friday came under renewed assault, as data showed the U.K. economy contracted in the second quarter reinforced concerns about future growth if the country leaves the European Union without an agreement.

The British pound GBPUSD, -0.5605% fell as low as $1.2056, a two-and-a-half-year low and down from $1.2133 on Thursday.

The pound fell against most counterparts, including the euro GBPEUR, -0.7001%

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