Fundamental data from the United Kingdom continued to be good, adding to evidences of economic growth. It supported the Great Britain pound, which rallied today, but currently has troubles maintaining gains. The sterling remains higher versus the Japanese yen, but retreated against the US dollar as of now.
The manufacturing Purchasing Managers’ Index advanced from 54.8 in July to 57.2 in August, the highest level in two-and-a-half years, while output and new orders grew at fastest rates since 1994. The construction PMI rose from 57.0 to 59.1 last month, the highest since September 2007. UK data continues to be exceptionally good, but absence of surprises makes impact of any particular report smaller.
GBP/USD jumped from 1.5540 to 1.5601, but retreated and traded near the opening level as of 14:49 GMT today. GBP/JPY went up from 154.37 to 155.01.
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