Sterling edges lower after UK economy unexpectedly contracts in January

(Reuters) - Sterling lost some ground against the dollar on Friday after data showed British economic output contracted unexpectedly in January compared with December.

The British pound was last down 0.19% on the day at $1.2929, though remains slightly higher on the week. GBP=D3

British gross domestic product contracted by 0.1% in January versus December. A Reuters poll of economists had forecast a monthly expansion of 0.1%.