020 7898 0500Sterling came under a little bit of pressure yesterday as the UK’s manufacturing purchasing managers’ index (PMI) disappointed. A below-market-estimate reading of 54.3 dragged on sterling whilst last month’s figure was also revised downwards, compounding losses.
The recent string of poor data has started to raise doubts that the UK’s relatively strong performance in the months following the Brexit vote IS sustainable.
Today we’ll see construction PMI figures released and tomorrow it’s the turn of the services PMI data. Both will be key to sterling’s performance and traders will be keen to see if there is any improvement from yesterday’s figures.
US banks will be shut today in observance of Independence Day. This can lead to irregular volatility in the markets.
