The pound euro (GBP/EUR) exchange rate fell on Friday and fell across the week.
The pound dropped after UK GDP unexpectedly contracted in May, falling by -0.1% MoM, defying expectations of a rise of 0.1%.
The marked the second straight month that the UK economy contracted. Weak economic growth could mean the BoE will be forced to cut rates sooner to support the economy.
The EUR rose on Friday as investors continued to wait for a EUR-US trading agreement.
Over the weekend, Trump announced that the EU will be hit with a 30% tariff on exports to the US if a better deal is not agreed by August 1st.
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