Filed Under:
Forex pairs in this Article » GBP/USD, EUR/GBP (New York) - The GBP’s good form over the past week continues with the 1.5700 and 1.1800 mark against the Dollar and Euro firmly in its sights.

Indeed, the sterling has gained 6.2% in recent months and is the best performer amongst developed market currencies according to Bloomberg over the last three months. Yesterday started with data showing a modest expansion in the UK industrial sector and disappointing manufacturing output data which slid back by 0.2% month to month, albeit on the back of a particularly strong monthly rise in March.

However, the dip in manufacturing follows on from a robust 1.1% monthly rise in March, limiting fears this could mark the start of a new downturn in the sector’s output. In fact, the UK’s manufacturing PMI has now stood in expansionary territory in both April and May. According to Lee McDarby, Corporate Treasury at Investec, “It is early, but so far the balance of evidence continues to point to UK industrial output contributing positively, albeit modestly, to Q2 output.”
comments powered by Disqus