Sterling lost some ground versus the dollar on Friday after data painted a grim picture of the British economy, and it softened against the euro as prospects of a German debt deal lifted the shared European currency.

The British economy shrank in the first month of 2025 compared with December, driven by a decline in production. View on euronews

The UK government has announced the abolition of NHS England, phased over two years. In practice, this will involve merging some functions and staff from NHS England into the Department for Health and Social Care (DHSC). As part of the change, the government has stated that it expects to reduce duplication and save hundreds of millions of pounds.