The British pound slipped on Friday against the world's reserve currency after economic data indicated the regional budget deficit grew in November as compared to the same month of 2012, according to Bloomberg.
The first weekly advance of the pound thus far this month against the U.S. dollar was limited by slipping consumer confidence in the U.K.
"The blow out in the current account deficit isn't great news and we get the feeling that most of the good news is already priced into sterling," head of currency strategy Jeremy Stretch with CIBC World Markets told Reuters on Friday. "A move towards $1.6450 certainly appears to be a sell unless we get more data that shows that demand is holding up well in the economy."
The pound dropped roughly 0.2 percent on Friday, which pulled down the monetary unit's weekly advance against the dollar to about 0.3 percent.
Official economic data released by the U.K. noted Britain's trade deficit increased to 20.7 billion pounds, according to Reuters. That is 5.1 percent of the region's gross domestic product.
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