India, April 23 -- The British pound weakened against other major currencies in the European session on Wednesday, after the U.K. private sector activity deteriorated for the first time in one-and-a-half years in April amid weaker foreign demand linked to tariff uncertainty.
Data from S&P Global showed that the U.K. flash composite output index dropped to a 29-month low of 48.2 in April from 51.5 in March. The expected score was 50.4. Any reading below 50 indicates contraction in the sector.
Weaker demand from international markets weighed on business activity in both the manufacturing and service sectors, the survey said.
The services Purchasing Managers' Index also fell to a 27-month low of 48.9 compared to 52.5 in March. The score was...