The British pound accelerated lower against the dollar on Friday, after the release of disappointing U.K. manufacturing production data.
Cable dipped to 1.2428 during European morning trade, putting under pressure supports at 1.2421/17 (Thu/Fri lows and pivotal 100SMA support at 1.2415) after manufacturing production fell 0.1% in February, compared to expectations for a gain of 0.2% and following a decline of 1.0% in the previous month.
On an annualized basis, manufacturing production increased by 3.3% in February, below forecasts for a 3.9% advance.
The report also showed that industrial production fell 0.7% in February, compared to forecasts for a 0.2% increase.
Focus turns towards the speech of BOE Governor Carney, with investors also awaiting release of US jobs data, due later today.