UK Sterling’s manufacturing PMI data

Published on in Foreign Exchange News by

The USD and the Pound were weaker across a broad range of currencies over the long weekend as global stocks made a small recovery.

As yet there has been no official statement released after a telephone conference between G7 Finance Ministers yesterday. However, Spanish Finance Minister Montoro raised pressure on the E.U. to find a rapid solution for Spain having already stated that they were isolated from financial markets. Despite speculative position weighting resulting in a short term recovery for the Euro we will await results from a Spanish bond auction tomorrow for a clearer picture. Meanwhile today the ECB meeting will dictate market moves as some speculation grows for a rate cut.

In the UK Sterling’s very weak manufacturing PMI data, released last week, was a turning point for the Pound. Should tomorrows PMI for the service sector come in weaker, it may give the Bank of England (MPC) the impetus to add another round of Q/E.

Main Currency Pairs * Yesterday Today
GBP/EUR 1.23340 1.23600
GBP/USD 1.53320 1.54700
GBP/CAD 1.59850 1.59620
GBP/NZD 2.02880 2.02500
GBP/AUD 1.57220 1.56800
GBP/AED 5.67690 5.68500
EUR/USD 1.24290 1.25100
GBP/CHF 1.48540 1.48500
GBP/ZAR 13.1062 12.9825
GBP/SEK 11.1411 11.1000
GBP/JPY 120.181 122.530
GBP/PLN 5.44130 5.36110
USD/PLN 3.53700 3.52530
EUR/PLN 4.39900 4.33200
EUR/CHF 1.20090 1.20100
GBP/MAD 13.6438 13.6300
PLN/EUR 0.22730 0.23080
GBP/CZK 31.8300 31.5500
GBP/DKK 9.19090 9.18900
GBP/HKD 11.9383 12.0100
GBP/HUF 374.865 369.760
GBP/NOK 9.40440 9.40500
GBP/INR 85.6342 85.7800
GBP/THB 48.5200 48.6200

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