Pound Sterling weakens against US Dollar after flash UK/US PMI data for April
The Pound Sterling (GBP) trades lower against the US Dollar (USD) around 1.3280 in Wednesday’s North American session. The GBP/USD pair weakens as the US Dollar (USD) attracts bids despite the release of the weaker-than-expected United States (US) S&P Global Purchasing Managers’ Index (PMI) data for April. The US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, recovers sharply to near 99.60. During European trading hours, the USD Index gave up initial gains and fell back to near 99.00. Read More…
UK Preliminary Services PMI contracts to 48.9 in April vs. 51.3 expected
The seasonally adjusted S&P Global/CIPS UK Manufacturing Purchasing Managers’ Index (PMI) eased to 44 in April from 44.9 in March. The data matched the market consensus of 44 in the reported period.Read More…
